Archive · 24 May 2025
Goa's EDC Simplifies Business Scheme for Wider Access and Growth
Imagine the government wants to help people start businesses in Goa.
They have a program called CMRY, and now the EDC is making it easier to get money.
They removed some rules, like the age limit is now higher, and they don't care how much money you make.
Even if you already have a loan, you can still apply.
They hope this helps more people start their own businesses.
They're also providing training to help people with things like managing their business and dealing with legal issues.
EDC of Goa simplified the Chief Minister’s Rojgar Yojana (CMRY) to promote entrepreneurship.
The age limit for applicants was raised from 42 to 50 years, with loan repayment to be completed by age 60.
The income ceiling of Rs 10 lakh for eligibility was removed.
Applications are now considered even if the applicant has an outstanding loan.
EDC is offering structured entrepreneurial training alongside financial support.
- Who
- The Economic Development Corporation (EDC) of Goa.
- What
- The EDC simplified the Chief Minister’s Rojgar Yojana (CMRY) scheme.
- When
- The announcement was made on Friday.
- Where
- Goa.
- Why
- To promote entrepreneurship and provide financial support, the EDC simplified the CMRY scheme.
- Scheme
- Chief Minister’s Rojgar Yojana (CMRY)
- Age Limit Increased
- From 42 to 50 years
- Income Ceiling
- Removed (Rs 10 lakh previously)
- Loan Disbursement Time
- 2-3 weeks
- Beneficiaries in Recent Years
- Over 8,000
- Amount Disbursed
- Over Rs 300 crore
- Default Rate
- Around 10%