Lady Entrepreneurs’ Wing of Vidarbha Industries Association (VIALEW),
Global Alliance for Mass Entrepreneurship (Game) and Lemon Ideas jointly organized a Session on Funding your Business – A guide to CMEGP Credit Scheme on 30th November 2024 at VIA Auditorium, Nagpur.
Shivkumar Muddamwar, General Manager, District Industries Centre, Nagpur, was the Chief Guest. He lauded VIALEW’s efforts to educate women entrepreneurs and startups about government financial support schemes such as CMEGP, PMEGP, PSI, cluster development, and Maharashtra’s Women Policy.
He elaborated on the Chief Minister Employment Generation Programme (CMEGP), a credit-linked subsidy scheme designed to boost employment by establishing 100,000 Micro and Small Enterprises (MSEs) over the next five years in rural and urban areas. CMEGP offers funding of up to ₹50 lakh for manufacturing and ₹10 lakh for services, with women beneficiaries required to contribute only 5%. He outlined the eligibility criteria, physical verification, project monitoring processes, and the collaborative role of financial institutions such as nationalized and private banks. He also emphasized the need for mandatory training through organizations like MCED or MITCON after project approval.
He detailed Maharashtra’s Women Policy, which provides 100% Fixed Capital Investment support and a 25% capital subsidy of up to ₹50 lakh. Under PSI 2019, MSMEs can avail incentives like SGST refunds, interest subsidies, stamp duty waivers, electricity duty exemptions, and power tariff subsidies, alongside other benefits. These schemes aim to empower entrepreneurs by reducing operational costs and enhancing growth opportunities.
Amol Muley, Sr Manager (Programs) – Lemon Ideas, presented the key features of the CMEGP scheme, including its eligibility criteria, benefits tailored based on beneficiary categories and geography (urban/rural). He elaborated in detail, using a project cost example to help the audience better understand the actual benefits of the scheme in numerical terms. Addressing one of the key challenges faced by applicants.
Deepak Menaria, Founder & CEO of Lemon Ideas, noted that many entrepreneurs struggle to prepare a comprehensive business proposal that aligns with bank requirements. To address this, Lemon Ideas is committed to supporting applicants with business plan development, loan proposal alignment, and overall business setup and growth guidance. He also outlined the additional support Lemon Ideas will provide, including assistance with market and customer linkages to drive business expansion and sustainability. Entrepreneurs are encouraged to take advantage of the CMEGP scheme and the valuable resources offered by Lemon Ideas, completely free of cost, to fuel their business success.
Lt Cdr Yogesh Bhavsar, VP – Global Alliance for Mass Entrepreneurship (Game) highlighted the organization’s goal to promote mass entrepreneurship by creating new businesses and supporting MSME growth. He emphasized GAME’s commitment to strengthening local economies, creating jobs, and backing the CMEGP scheme through targeted training, mentoring, via partnerships with Lemon Ideas.
Earlier, Rashmi Kulkarni, Chairperson of VIALEW praised government initiatives encouraging women to establish enterprises and create employment opportunities. She also welcomed Lt Cdr Yogesh Bhavsar with a floral bouquet & memento. Chitra Parate, Past Chairperson – VIALEW welcomed Deepak Maneria, Manisha Bawankar welcomed Amol Mule, Poonam Lala welcomed Girish Raju, Ex-Banker, Mentor – Lemon Ideas
Project Director, Dr Anita Rao in her opening remarks said CMEGP offers funding to existing and aspiring women-led entrepreneurs’, they should get the benefit of such a scheme. She also introduced the guest speakers. Yogita Deshmukh, Secretary – LEW also proposed a vote of thanks.
Prominently present were VIALEW Past Chairpersons – Chitra Parate, Vandana Sharma, Shachi Mallick, Reeta Lanjewar, Poonam Lala, Manisha Bawankar and also got tremendous response from MSMEs including LEW members, lady-led entrepreneurs, startups, etc.