Northeast Desk, 17th October: Meghalaya Chief Minister Conrad K Sangma has initiated the flagship program “CM Elevate” to bolster entrepreneurship and address the challenges of unemployment among the state’s youth. The program was officially launched in Jowai and aims to encourage entrepreneurial activities by providing substantial support to 20,000 beneficiaries with a budget of Rs. 300 crores over the next five years.
Chief Minister Sangma emphasized the need for policies that foster an ecosystem of entrepreneurship and create opportunities for over 70,000 youth who enter the workforce each year in Meghalaya. While government jobs can absorb only a fraction of this workforce, Sangma believes that encouraging entrepreneurship and small businesses will be pivotal in generating employment and driving economic growth.
The CM Elevate program is open to aspiring entrepreneurs who can apply for ventures in various sectors, such as tourism, agriculture, and entertainment, among others. Under this scheme, the state government will offer grants and subsidies of up to 75 percent, with the remaining capital linked through bank loans.
CM Sangma outlined the importance of policy interventions today to resolve the future challenges of unemployment. With over 33 lakh people in Meghalaya below the age of 45, job creation is set to become an increasingly critical issue. The CM Elevate program’s target is to create over 50,000 jobs in the state’s entrepreneurship sector in the next five years.
He also highlighted other youth-centric programs like “YESS Meghalaya,” which support youth organizations, societies, and NGOs by providing financial assistance for awareness, educational, and engaging activities. In the past year, this program has supported 1,155 youth organizations.
The launch event featured the distribution of checks, totaling Rs. 1.25 crores, under YESS Meghalaya, Green Meghalaya, and the Self-Help Group (SHG) movement. Several MLAs and public figures lauded Chief Minister Sangma’s proactive approach to uplift farmers, sportsmen, entrepreneurs, and individuals of all ages, as Meghalaya endeavors to become a vibrant and dynamic state economy.