Goa has a large chunk of youth population that is skilled with good entrepreneurial outlook . Many among these are trying to get a foothold in entrepreneurship but lack funds to get a start.
The good news is there is help for those with an entrepreneurial spirit.
EDC Limited is successfully operating its flagship scheme, the Chief Minister’s Rojgar Yojana by focusing on the unemployed youth of Goa and has so far disbursed more that Rs 220 crores to around 7500 entrepreneurs under loans for unemployed.
Moreover, Goa is trying its best to provide good governance. It is aiming at an efficient, transparent and accountable system that is sensitive to the needs of the Goan residents.
The state is also doing its best to provide a healthy law and order situation with independent judiciary and police. All these factors will go a long way in instilling confidence among budding entrepreneurs.
Considering the population of Goa and the skill sets of its people, it has become imperative to develop industry and allied commerce by providing a framework of guidelines that are forward looking and consistent with present times.
Goa has recognized that industry and commerce is the cornerstone of its economy, and one of the best ways to provide fillip to it is by providing loans for unemployed.
The broader vision for the development of Goa considers the following
Goa has to be transformed as a place to reckon with respect to hospitality and knowledge industry
Focus on infrastructure
The loans for the unemployed must accelerate tourism, transport and agricultural sectors.
It is noteworthy that the pharma industry has established strong roots in Goa. The government is keen that this industry must be buttressed further by providing improved support infrastructure.
To encourage many of the several employment intensive activities.
Focus on village centric problems – by providing healthcare and infrastructure like roads, power and water.
For achieving an inclusive development, all sections of the society including tribals are considered.
To accomplish this objective, Goa Tribal Employment Generation Programme (GTEGP) has been put in place.
Some of the salient features of this scheme include
Unemployed individuals must be between 18 to 45 years of age
Must be permanent residents of Goa for at least 15 years
Must be a member of the Tribal community notified by the Government Of Goa
The activities considered to be financed under the scheme are micro and small manufacturing enterprises ( MSME), service enterprises and trade enterprises.
57% of the project cost will be considered as term loan finance
Minimum 5 % promoter’s margin is essential
The loan is repayable in 60 to 120 EMIs.
The interest rate for the loan is 2% on the term loan.
The initiatives by EDC Limited by providing quick loans for the unemployed will go a long way in mitigating some of the pressing problems faced by the state.
We must keep in mind that entrepreneurship is the engine of economic growth. Loans for viable schemes will not only help the beneficiaries but also help in the development of Goa. Contact EDC for quick loans in Goa.
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