Chief Minister Rozgar Yojana (CMRY) – Goa

The Chief Minister’s Rojgar Yojana is a scheme run by the Government of Goa, through the state’s Entrepreneurship Development Corporation , launched to help educated unemployed youth and self-employed persons to set up small businesses and generate employment in the state. It provides loan assistance, subsidy and related support so that you as an MSME or startup in Goa can access capital and begin enterprise activities.

Key Features
Financial Assistance
Eligibility Criteria
Documents Required
Application Process for the Scheme

Key Features

Loan funding support: The scheme provides access to finance for starting a small business venture - you can apply for a loan through EDC-Goa under CMRY. This allows you to mobilise capital for equipment, working capital, or business set-up.
Age and eligibility flexibility: The scheme is designed to include educated unemployed persons between 18-50 years. For certain disadvantageous groups (widow, disabled, SC/ST/OBC) the age limit is relaxable by 5 years. This gives you a wider window to qualify.
Support for self-employment ventures: Rather than just wage jobs, the scheme emphasises starting your own enterprise. If you as an MSME founder or startup promoter have a business idea, this scheme can assist you.
Subsidy or interest concessions: While the primary support is the loan, there are elements of subsidy or favourable interest terms provided by the state. This lightens the financial burden and facilitates viable business set-up.
Focus on local enterprise and job generation: The scheme aligns with state priorities of encouraging local entrepreneurship, creating jobs in Goa, empowering youth and marginalised groups, and boosting micro and small enterprises.

Financial Assistance

Component	Assistance Provided	Detailed Explanation & Example
Loan for educated unemployed / self-employed persons	Loan up to a maximum of ₹ 20 lakh per individual (under CMRY Goa) for setting up a business.	Example: You have a startup idea in Goa needing investment of ₹ 15 lakh (machinery, shop fit-out, working capital). Under CMRY you may apply and if eligible obtain loan up to ₹ 15 lakh (within the ₹ 20 lakh cap).
Subsidy / Concession / Age relaxations	Age relaxations (5 years) for widow/disabled/SC/ST/OBC; possible state subsidy elements (details to verify in scheme guidelines)	Example: If you are a disabled youth aged 52 in Goa (above 50), you may still be eligible under the 5-year relaxation provision; you may also receive reduced interest or partial subsidy (check local scheme norms).

Eligibility Criteria

Who can apply:

Educated unemployed or self-employed persons in Goa between age 18-50 years.
Age relaxable by 5 years for widows, persons with disability, SC/ST and OBC candidates.
Must have a viable business plan / self-employment venture in Goa.
Must meet criteria set by EDC-Goa (including location within state, education qualification, etc).

Who cannot apply:

Persons outside the age limit (unless covered by relaxations) would not be eligible.
Business ventures outside the state of Goa likely not eligible under this scheme.
Already established large enterprises (beyond scheme scope) may not qualify.
Specific exclusions may apply (check EDC-Goa’s detailed scheme circular).

Documents Required

Identity proof (Aadhaar/PAN) and age proof.
Education qualification certificate.
Category certificate (if SC/ST/OBC/disabled/widow).
Business plan / proposal including cost estimates.
Project cost statement (machinery, working capital, etc).
Bank account details.
Any KYC / address proof.
Registration of business entity (if required).
Any other documents as per EDC-Goa’s checklist.

Application Process for the Scheme

Option 1: Apply with Bullit (Recommended)

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Option 2: Apply through the Goa EDC (Official Route)

Visit the Economic Development Corporation (EDC) of Goa or its official portal.
Fill out the CMRY application form with business details.
Submit the required documents including proof of residence, qualification, and project report.
Attend interviews or evaluation sessions if required by EDC.
EDC forwards the application to participating banks.
Bank conducts appraisal and sanctions the loan.
Subsidy (if applicable) is released after approval and loan disbursal.

Option 3: Apply via Participating Banks

Approach any bank participating under CMRY.
Submit the filled application form along with a DPR or business plan.
Comply with KYC and collateral requirements as per norms.
Bank processes the loan under CMRY guidelines.
EDC validates and facilitates subsidy release.

Frequently asked questions

What is the Chief Minister Rozgar Yojana ?

It is a loan-based scheme by the Government of Goa that supports educated unemployed youth in starting micro and small enterprises. It offers bank loans with subsidies to promote entrepreneurship and employment generation.

Who is eligible to apply for CMRY?

Residents of Goa for at least 15 years, aged 18–45 , with minimum VIII pass education and a viable project.

What types of businesses are supported?

Manufacturing units, service enterprises, repair units, tourism-related activities, and trading businesses within the approved list.

Is collateral required?

Collateral requirements depend on the bank and project size. Smaller loans may be considered under CGTMSE coverage

How long is the loan processing time?

Processing can take 2–6 weeks depending on documentation, bank appraisal, and EDC evaluation steps.