The Maharashtra Government Scheme is designed to promote the growth of industries, facilitate entrepreneurs, and provide employment opportunities in the state. The State Government of Maharashtra envisions an Economically Forward Ecosystem aiming at the Development of Manufacturing Capabilities and meeting the Welfare of Underprivileged sections of society through various welfare schemes in Maharashtra. This article explains the major Maharashtra Sarkar Yojana and their contribution to the manufacturing sector.
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Maharashtra Industrial Policy 2019
One of the stepping stones of Maharashtra Government Schemes is the Industrial Policy 2019. This all-encompassing blueprint has been put in place to strengthen the capabilities of the manufacturing sector through a cascade of enhancements. The key goals behind the Industrial Policy are:
- To increase industrial investment in the state of Maharashtra
- To encourage Micro, Small and Medium Enterprises (MSME) Sector
- To generate sample employment potential
- To promote inclusive growth
Such a policy also classifies territories according to the level of industrialization achieved, so that the schemes) are appropriately structured in response to the demands of each zone. The implementation of Maharashtra Government Schemes can properly address the problem of various regions by dividing the districts of the state into eight categories.
Package Scheme of Incentives (PSI) 2019
The Package Scheme of Incentives (PSI) 2019 occupies a central place in the Maharashtra Sarkar yojana general outline, especially on schemes geared towards aiding MSMEs. This scheme entails among others:
- Subsidies on State Goods and Services Tax (SGST) payments
- Power and interest subsidies
- Exemptions on stamp duty and electric duty
The PSI 2019 aims at encouraging industries in the backward regions by giving higher incentives so that the industrial growth of Maharashtra is spread out evenly.
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Chief Minister’s Employment Generation Program (CMEGP)
Another important initiative is the Chief Minister’s Employment Generation Programme or CMA, which is focused on creating self-employment opportunities, especially among the youth, in the state. The major highlights are,
- Funding support up to Rs. 50 lakhs for manufacturing activity projects
- Funding support including margin money for service sector and agri-allied projects- Rs 10 lakhs
- Simple online application method is available through the maha-cmegp.gov.in website
For the year 2022-23, the government has earmarked a sum of Rs 591.07 crores for 25000 loan cases under this scheme. This shows the commitment of Maharashtra Sarkar Yojana to support the budding entrepreneurs and generation of quality job opportunities.
Maharashtra State Industrial Cluster Development Scheme (MSI-CDP)
The scheme of the Development of Industrial Clusters (MSI-CDP) in the state of Maharashtra focuses mainly on enhancing the growth of micro, small and medium business enterprises engaged in manufacturing. Common facility centers are to be constructed. There will also be infrastructure support and large scale subsidies for the setting up of the centers. More than 5000 industrial clusters have received geographical assistance under the MSI-CDP and especially districts that are industrially backward thereby supporting the welfare schemes in Maharashtra.
Collective Incentive Scheme for Industries
The government introduced the Collectives incentive scheme for industries to encourage manufacturing in the backward regions. This scheme is capable of providing incentives and subsidies in the form of:
- Subsidies for supplementary industries
- Loan interest subsidies
- Subsidies for electricity rates
- Waivers for stamp duty and for electricity connection fees
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Bharat Ratna Dr. Babasaheb Ambedkar Special Package Scheme
This particular scheme is designed for SC and ST businessmen in the sector of manufacturing. In order to enhance the industrialization among the backward classes, the Bharat Ratna Dr. Babasaheb Ambedkar Special Package Scheme contains provisions for offering incentives, reinforcing the principle of inclusive development within the Maharashtra Sarkar yojana.
Policy for Industrial Parks
The Maharashtra Government Schemes, include a policy which aims at creating industrial estates exclusively for the manufacturing garments, gems and jewelry, micro-electronic and engineering units. This initiative seeks to position Maharashtra as the preferred location for these industries on a global scale and facilitates participation of MSME, thus augmenting the industrial growth of the state.
Electric Vehicle (EV) Policy
The Electric Vehicle (EV) Policy is a deliberate initiative underscoring the importance of sustainable manufacturing in the state of Maharashtra. The specific objectives of this policy include the following:
- Promote the uptake of Battery Electric Vehicles
- Set-up a gigafactory for production of advanced chemistry cell battery
- Facilitate policy measures addressing EV production investment
The EV manufacturing push by the Maharashtra government also indicates the importance of the manufacturing sector for the state and its response to the international trends.
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Aerospace and Defense Manufacturing Policy
The Policy for Manufacturing Aerospace and Defense Equipment aims to create a conducive environment to make Maharashtra the most sought after investment hub for aerospace and defense sector industries. The salient features of this policy are:
- Investment promotion to the tune of USD 2 billion
- Workforce Training
- Job Creation
- Encouragement of self-reliant technologies
This Maharashtra Sarkar yojana is an example of the rising ambitions of the government in enhancing industrial capacity in the state, especially in the advanced technologies.
Electronics System Design and Manufacturing (ESDM) Policy
The ESDM policy aims at the development of the electronics ecosystem in the state of Maharashtra. This initiative includes:
- Encouraging activities relating to research and development, design and innovation in electronics
- Facilitating manufacturing activities on lithium-ion batteries and LEDs
- Creating electronics manufacturing clusters
By putting this policy in effect of Maharashtra Government Scheme by embracing technology and bettering the state of manufacture.
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Prime Minister’s Employment Generation Programme (PMEGP)
Even though PMEGP is a scheme of the government of India, it is properly implemented in the state of Maharashtra. In PMEGP, the manufacturing projects up to Rs. 25 lakhs can get the loan for 90% of the project cost. The scheme benefits SC/ST/OBC/minority/women/ex-servicemen/handicapped entrepreneurs and supports welfare schemes in Maharashtra.
Seed Money Scheme (SMS)
The Seed Money Scheme (SMS) is yet another initiative of the Maharashtra government to promote entrepreneurship among the unemployed in the manufacturing sector. The salient features are:
- Seed money assistance of 15-20% of the project cost is offered
- Maximum assistance is Rs. 3.75 Lakhs
- The interest is 6% per annum with a holiday of three years period which is very attractive
This is an instance of the Maharashtra Sarkar yojana which is provided for new entrepreneurs which aims to encourage and grow local markets.
District Industries Centre Loan Scheme
The District Industries Centre Loan Scheme provides financial support with the objective of supporting small manufacturing units in rural and semi-urban regions. Key features of this scheme are:
- Provision of margin money for units with investment of installed plant and machinery up to Rs. 2 lakhs
- Financial assistance not exceeding 20% of the total investment in the project (max Rs. 40,000) for general category entrepreneurs
- Up to 30% assistance (maximum Rs. 60,000) for SC/ST entrepreneurs
Through these initiatives, the Maharashtra government demonstrates its commitment to creating a robust and inclusive manufacturing ecosystem.
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