Goa: CM approves initiative to create job opportunities for youths through entrepreneurship

PANAJI: Goa Chief Minister Pramod Sawant on Thursday green-lighted an initiative to generate job opportunities for youths through entrepreneurship, an official said. The decision was made at a board meeting of the state-run Economic Development Corporation (EDC) Limited. The board, chaired by CM Sawant, took several other decisions to accelerate the growth of Goa’s entrepreneurial ecosystem and deepen financial inclusion for local businesses, a government spokesman said.

“In a significant move to promote employment and self-reliance, the chief minister granted in-principle approval to the ‘Mukhyamantri Rozgar Yojana’, a new initiative aimed at generating employment opportunities for youth through entrepreneurship,” he said.

To further embed entrepreneurial education in the state’s academic institutions, the CM approved an initiative with the Entrepreneurship Development Institute of India (EDII) to train faculty members from government colleges and higher secondary schools across Goa, he said.
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Sawant directed the EDC to design new, targeted loan schemes specifically for Goan businesses and simplify and enhance access to existing financial schemes for entrepreneurs. He approved a fresh round of loan proposals, taking the total value of loans sanctioned by EDC this year to about Rs 40 crore, the spokesperson said.

The chief minister also approved the financial statements of the EDC Limited for the financial year 2024-25. “The corporation reported a revenue of Rs 111.47 crore and a profit of Rs 81.27 crore, maintaining a healthy financial profile, with gross NPAs below 0.25 per cent. The net worth of the corporation now stands at Rs 840 crore,” he added.