The Uttar Pradesh Government under Akhilesh Yadav has come up with an innovative scheme to attract and benefit young entrepreneur of the state named 'Chief Minister Employment Generation Programme (CMEGP).'
It is being said that the scheme is inspired by the Prime Minister Employment Generation Programme launched by the UPA government in 2008, aims to promote small scale industries where any person holding Rs 1 lakh can start a business worth Rs 25 lakh, with major financial assistance to be arranged by the state government.
CMEGP will be launched by the department of micro, small and medium entrepreneur (MSME) & export promotion. The government has instructed the state finance department to include the scheme in its preparation of the annual budget for 2016-2017.
The assistance will be given in the form of subsidy upto 25 per cent (35 per cent for special category including weaker sections) of the project cost in rural areas while it is 15 per cent (25 per cent for special category) for urban areas.
It is being said that the scheme is inspired by the Prime Minister Employment Generation Programme launched by the UPA government in 2008, aims to promote small scale industries where any person holding Rs 1 lakh can start a business worth Rs 25 lakh, with major financial assistance to be arranged by the state government.
CMEGP will be launched by the department of micro, small and medium entrepreneur (MSME) & export promotion. The government has instructed the state finance department to include the scheme in its preparation of the annual budget for 2016-2017.
The assistance will be given in the form of subsidy upto 25 per cent (35 per cent for special category including weaker sections) of the project cost in rural areas while it is 15 per cent (25 per cent for special category) for urban areas.
