The government of Maharashtra has come up with an employment generation program in line with the PM’s employment generation program. According to a senior IAS officer, this flagship program approved by the CM Devendra Fadnavis is aimed at setting up of small, micro and medium enterprises. It is hoped that this new program will generate nearly 10 lakh jobs within the next 5 years. The aim of this program is to encourage entrepreneurship and at the same time provide reliable employment for the educated youth, especially in the rural areas.
Essential features of the employment generation program are:
- 30% reservation for women entrepreneurs
- 40% ventures to be set up in rural areas
- 2019 target is 10,000 micro-ventures by first-generation entrepreneurs
- It will encourage business in service, manufacturing, and agro-based sectors
- Government planning to set up 50 new industrial parks in various taluks across the state
- Nodal bank for funding is Corporation bank, while private banks such as ICICI, HDFC and Yes Bank will also be offer funding