Goa: Projected funds for CM's employment scheme reduced

The Economic Development Corporation (EDC) has slashed the budget for giving loans under the Chief Minister's Rojgar Yojana (CMRY) compared to 2018-19, indicating that the self-employment scheme has received tepid response.

As per the 'Performance Budget' of Goa government's Finance Department for 2019-20, the projected sanctioned amount for CMRY has been reduced from Rs 28.57 crore last fiscal to Rs 26 crore.

"EDC continues to implement the self-employment loan scheme CMRY to promote self-employment and entrepreneurship among the youth," read the performance budget tabled in the legislative assembly here.

The state-run EDC conducted entrepreneurship training programmes for more than 240 CMRY beneficiaries who were financed under the scheme in 2018-19, it said.

Over the years, 6,100 persons have availed of the scheme's benefits, it said.

The allocation for term loan for industry by the EDC has been increased from Rs 59.61 crore in 2018-19 to projected Rs 100 crore in 2019-20.

The sanction of term loan for government-run corporations has been enhanced from Rs 81 crore to Rs 100 crore.

The performance of the corporation has been very good inspite of overall economic slowdown, it said, adding that "EDC has reinvented its business model and broad-based its activities".