Chief Minister’s Rojgar Yojana in Goa 2018-19 [CMRY] Youth Rozgar Scheme [Loan Scheme and Interest Rate Application From PDF Download, Eligibility Criteria, Registration Process ]
State government of Goa had promised people better employment opportunities before the election. Once it came to power, it started implementing several developmental schemes. One such project that was targeted towards offering credit to youngsters so that they can start their own business is Chief Minister’s Rojgar Yojana.
| Name of the actual scheme | Chief Minister’s Rojgar Yojana |
| Launched in | Goa |
| Launched by | Manohar Parrikar (CM) |
| Official launch date | 2017 |
| Official PDF | https://www.goa.gov.in/wp-content/uploads/2017/11/6-CMRY-Scheme.pdf |
Key features
- Lowering problems of unemployment – As more and more youngsters open their own businesses, their dependence on jobs will reduce. This project will ultimately reduce the menace of unemployment.
- Maximum credit offered – State government will offer a maximum of Rs. 20 lakhs to candidates with technical training. For those who don’t have technical qualification, they can attain as much as 15 lakhs.
- Interest rate on credit – All male candidates need to pay an interest of 8% while women have to pay EMI calculated at 6%.
- Penalty interest – If a borrower misses to pay one EMI then he/she will have to pay an additional 2% as penalty. If he/she fails to pay more than one EMIs, then penalty will be charged at an extra 8%.
- Repayment tenure – Creditors will have to repay the loan amount before the completion of ten years. If the applicant hails from ST or SC background, then they will get an additional ten years for loan repayment. Apart from this, applicants will receive moratorium period of one year.
- Entrepreneurship training – All applicants will also receive free training from the Goa government for running the business successfully. The duration of this training will be 30 days.
- Group business venture – State will offer the same financial benefits for group business ventures as well. In that case, the business must have more than one owner. But this number should not be more than five members.
Eligibility for application
- Residential criterion – As the credit project has been specially implemented by Goa government, only legal and permanent residents of this state will be allowed to get the benefits of this program.
- Age criterion – Only those applicants can apply if they fall within the age bracket of 18 years to 34 years. Widows, physically disabled applicants and members of ST/SC/OBC community will a relaxation of 5 years.
- Academic criterion – It has been mentioned in the scheme draft that only such applicants need to apply who have passed class 8 successfully. But members of backward classes will be considered under special clause.
- Occupational criterion – Only those eligible people can apply who do not have any fixed income or job.
- Family income criterion – Only those applicants will get the chance to attain financial assistance under this credit scheme if their total annual income is less than Rs. 3 lakhs.
Documents required for application
- Residential proof – As the scheme is only for people living in Goa permanently, candidates need to attach their residential address proofs with the enrollment form.
- Aadhar card – Registering candidates will have to attach a photocopy of their Aadhar cards. It will assist the authority members to do necessary background checks.
- Income certificate – Due to the presence of the income certificate, applicants must attach a legal income certificate that highlights that the annual income of the family is within specified limits.
- Educational certificate – Due to the presence of the education criterion, applicants have to produce their school certificate and the mark sheet of 8th
- ST/SC/Widow/Physically handicap certificate – As this project offers special benefits for widows, physically handicap candidates and ST or SC caste members, they need to attach legal certificates as applicable.
- Defaulter certificate – Interested applicants will have to attach a certificate that highlights that they have missed paying the EMI under any loan scheme, in case they have borrowed money before this.
- Passport sized photo – Applicants will have to attach a recently clicked passport sized photograph in the enrollment form.
How to get the application form?
All eligible and interested applicants will have to take part in an offline registration process. The enrollment form for this scheme will be available from the office of Economic Development Corporation in Goa.
How to apply for the scheme?
- All interested applicants will have to collect the application form from the Economic Development Corporation Office in Goa. No money needs to be paid for getting the application document.
- The candidate needs to fill in all details, mentioned in the enrollment form.
- All necessary documents must be attached with the application form for scrutiny and background check.
- At the time of submitting this form, applicants will have to pay a fee. If the person desires a credit that is not more than Rs. 50,000, he/she needs to pay Rs. 25. If the credit amount exceeds Rs. 50000 mark, then the applicant needs to pay Rs. 100.
With proper support from the state government, unemployed and less educated people of this area will be able to start a small venture on their own. Earning something is better than having no income at all. In time, these people will be able to expand their businesses and attain prosperity.
Other Schemes
- Medini Puraskar Yojana 2018
- Mukhyanmantri Kisan Aaye Badhotri Solar Yojna in Delhi 2018
- Fish Transport Trucks Subsidy Scheme In Goa
- Varah Palan Scheme In Goa