CM ELEVATE Program: The Government of Meghalaya has set an ambitious target to double its Gross State Domestic Product (GSDP) and transform the state into a USD 10 billion economy by 2030. The focus is on achieving a prominent position among the top states regarding per capita income and meeting Sustainable Development Goals. To realize this vision, the government is emphasizing infrastructure development, facilitating ease of doing business, and implementing programs aimed at engaging and empowering the populace for sustainable economic growth.
Conrad K Sangma, the Chief Minister of Meghalaya, has inaugurated CM-Elevate, a state-funded initiative aimed at supporting more than 20,000 entrepreneurs across various sectors in the next 3-4 years. The government has earmarked Rs. 300 crore for the program, providing up to a 75 percent subsidy along with comprehensive assistance for proposal implementation. Sangma highlighted the program’s objective to encourage entrepreneurship, reduce reliance on government employment, and stimulate job creation in the private sector. The inaugural batch of entrepreneurs has already received financial assistance for various projects, marking the commencement of a three-year initiative to nurture entrepreneurship in the state.
What is the CM ELEVATE Scheme 2024?
The CM-ELEVATE Program, a flagship initiative funded by the state, is designed to make the youth partners in development by promoting entrepreneurship. This program offers support to individual entrepreneurs, collectives, village organizations, and traditional institutions for various businesses.
To facilitate financial assistance and ensure accessible and affordable credit, the Government of Meghalaya has collaborated with both public and private sector banks. Adequate credit availability is expected to inspire aspiring entrepreneurs to secure loans for starting new ventures, expanding existing businesses, investing in new technologies, and increasing capacity, ultimately fostering SME growth, generating employment, and enhancing local income.
CM ELEVATE Scheme is a financial assistance scheme for the unemployed youth of the state. Under this program, various schemes are in the bucker that a youth can select. The state government will give a 75% subsidy in financial assistance. Youths aged between 18 and 35 years will be able to apply for this scheme.
Under the program, individual entrepreneurs and various entities in the state, whether registered or unregistered, will benefit from a single-window portal. This portal enables them to select and apply for business ventures across different sectors based on their specific needs.
| CM ELEVATE Scheme 2024 Key Highlights | |
| CM ELEVATE Scheme Launch Date | October 18, 2023, |
| CM ELEVATE Scheme Official Website | CM ELEVATE Program |
| CM ELEVATE Scheme Objective | To provide financial assistance to the unemployed youth of the state in various sectors |
| CM ELEVATE Scheme Who Can Apply? | Individuals from MeghalayaRegistered entities from Meghalaya such as societies, companies, corporations, etc. Non-registered entities from Meghalaya such as Self-Help Groups (SHGs), Village Organizations (VOs), Producer Groups (PGs), etc. |
| CM ELEVATE Scheme Nodal Department | Planning, Investment Promotion & Sustainable Development Department |
| CM ELEVATE Scheme Implementing Agency | 1. Department of Agriculture and Farmers’ Welfare 2. Animal Husbandry & Veterinary Department 3. Tourism Department 4. Meghalaya Basin Management Agency, MBMA |
| CM ELEVATE Scheme Loan Amount | 95% of the total project cost |
| CM ELEVATE Scheme Interest Rate | Based on the scheme |
| CM ELEVATE Scheme Mode of Application | Online |
| CM ELEVATE Scheme Helpline Number | +91 8588052636 |
CM ELEVATE Scheme Objective
- State Economic Growth: The program aims to expedite and sustain the economic development of the state by fostering entrepreneurship, generating employment, developing infrastructure, promoting tourism, and investing in businesses to enhance capacity and potential expansion.
- Enhanced Credit Flow: Through a credit-linked approach, the program seeks to improve loan accessibility for individuals and businesses encountering challenges in obtaining credit through conventional channels, particularly marginalized communities and small to medium-sized enterprises (SMEs). This initiative also encourages individuals to open bank accounts and engage with digital financial services, thereby promoting financial inclusion.
- Entrepreneurship Promotion: The program’s primary objective is to promote entrepreneurship among local youth by providing them with essential access to capital for initiating businesses. Entrepreneurs will also receive the necessary knowledge and skills through various capacity-building programs and training sessions, ensuring the successful implementation and operation of their ventures.
- Increased Employment Opportunities: By fostering entrepreneurship and supporting existing businesses in expanding their capacities, the program aims to create employment opportunities for the local population. This initiative will yield multiple benefits for the state in terms of economic, social, and overall well-being.
- Comprehensive Sector Coverage: The program is meticulously designed to address the diverse needs of the people, spanning various sectors such as agriculture, horticulture, animal husbandry, tourism, entertainment, well-being, and power.
- Unified Online Application Portal: Individual entrepreneurs, along with various registered and unregistered entities in the state, will have access to a consolidated online platform. This platform enables them to apply for diverse business ventures across sectors, tailored to their specific requirements.
- Financial and Supportive Assistance: To mitigate risks associated with credit flow, selected applicants will receive financial support ranging from 35 to 75 percent of the project cost. A comprehensive array of supportive measures, including various forms of assistance and capacity-building programs, will be provided to ensure effective access and utilization of resources provided by the government.
CM ELEVATE Scheme Eligibility Criteria
General eligibility conditions for participants in the program are outlined below. However, for specific requirements, individuals are advised to consult the guidelines of each scheme.
a) Individual Entrepreneurs:
- Must be permanent residents of Meghalaya
- Age should be above 18 years and below 58 years
- Valid residential ID proof such as an Aadhar Card, voter ID, Passport, or Driving License is required
- Eligible for loan application and should not be a defaulter at any financial institution
- No pending criminal or legal cases
- Certain individuals are generally not considered, including state and central government employees, a public sector undertaking employees, individuals with political influence, registered class-1 contractors, and consultants engaged with the government.
- Only one member per family is eligible for the scheme.
b) Registered Entities:
- Entities like cooperatives, societies, companies, corporations, etc., can apply
- Must be registered with the Government of Meghalaya and provide a valid registration certificate
- The President and Secretary must submit valid residential ID proof (Aadhar Card, Voter ID, Passport, Driving License)
- Eligible for loan application and should not be a defaulter at any financial institution
- No pending criminal or legal cases
- Entities primarily political in nature are not ordinarily considered.
c) Non-Registered Entities:
- Unregistered but recognized entities like village organizations, self-help groups, producer groups, etc., based in Meghalaya can apply
- The President and Secretary must provide valid residential ID proof (Aadhar Card, Voter ID, Passport, Driving License)
- Should not be a defaulter at any financial institution
- No pending criminal or legal cases
- Entities primarily political in nature are not ordinarily considered.
Please Note:
Applications shall not be ordinarily considered for the following
- Government employees (currently employed/retired and drawing pension) and their dependents.
- Pressure groups and organizations that are primarily political.
CM ELEVATE Scheme Documents Required
Submission requirements to validate eligibility for the program involve the provision of necessary documents as outlined in the specific guidelines for each scheme. While individual scheme guidelines should be consulted for precise requirements, generally, the following documents are needed:
- Proof of Residency, including Aadhar card, voter ID, driver’s license, and passport.
- Proof of Land Ownership/Lease, such as sale deed, registration certificate, etc., as applicable.
- No Objection Certificate from the headman, where applicable.
- Certification letter from the Block Development Officer (BDO) as evidence of involvement in the sector related to the scheme.
- Mandatory Aadhar linkage to avail benefits of up to 3% annual interest subvention for specific schemes under the Interest Subvention Scheme by the Reserve Bank of India (RBI) and National Bank for Agriculture and Rural Development (NABARD). Entrepreneurs are encouraged to visit partner banks for more details on the same, particularly for schemes like Reefer Trucks under PRIME-ARVS, Warehouse Scheme, and Common Facility Center Scheme.
- PAN card, if available.
- Copy of Income Tax Return, if available.
- Latest bank statement, if available.
- GST certificate and statement of return, where applicable.
- Any additional documents specified by the department and partner banks.
CM ELEVATE Scheme Loan Requirements
| Loan Amount | 95% of the total project cost in the form of a term loan to the entrepreneur. |
| Loan term | Varies from 5 years to 15 years based on individual schemes |
| Moratorium period | Varies from 3 months to 18 months |
| Annual rate of interest | Variable interest rates are applicable for partner banks. Interest rates also vary from one scheme to another. Note: Additional subvention on the annual rate of interest up to 3% is applicable upon Aadhar linkage by the entrepreneurs to the partner banks for the following schemes, Reefer Trucks under PRIME-ARVSWarehouse Scheme Common Facility Center Scheme However, Entrepreneurs are requested to visit any of the partner banks for more information on the same. |
CM ELEVATE Types of Schemes
| Scheme Name | Implementing Department/ Agency | Total Financial Aid on Project Cost |
| PRIME Tourism Vehicle Scheme | Tourism Department | 50% |
| Agro Tourism Villa Scheme | Tourism Department | 35% |
| Meghalaya Tourism Homestay Scheme | Tourism Department | 70% – Rural ST60% – Urban ST, Rural General50% – Urban, general |
| Meghalaya Motor Caravan Scheme | Tourism Department | 50% or 25 lakhs whichever is lower |
| PRIME Agriculture Response Vehicle Scheme | Department of Agriculture and Farmers’ Welfare | 50% |
| Meghalaya Polyhouse Scheme | Department of Agriculture and Farmers’ Welfare | 50% |
| Meghalaya Warehouse Scheme | Meghalaya Basin Management Agency, MBMA | 75% |
| Meghalaya Common Facility Center Scheme | Meghalaya Basin Management Agency, MBMA | 75% |
| Meghalaya Piggery Development Scheme | Animal Husbandry & Veterinary Department | 50% |
| Meghalaya Dairy Development Scheme | Animal Husbandry & Veterinary Department | 50% |
| Meghalaya Goat Farming Scheme | Animal Husbandry & Veterinary Department | 50% |
| Meghalaya Poultry Farming Scheme | Animal Husbandry & Veterinary Department | 50% |
| Meghalaya Cinema Theatre Scheme | Meghalaya Basin Management Agency | 35% or 1 crore for a 200- seater whichever is lower & 35% or 50 lakhs for a100- seater whichever is lower |
| Meghalaya Sports and Wellness Center Scheme | Meghalaya Basin Management Agency | 35% or 1 crore whichever is lower to the top 5 &35% to remaining entrepreneurs |
| Meghalaya Any Business Venture | Meghalaya Basin Management Agency | 35% or 17.5 Lakhs whichever is lower |
CM ELEVATE Scheme Application Process 2024
In order to apply for the CM ELEVATE Scheme, you need to visit the CM ELEVATE Portal. At this moment online applications will be entertained. However, before you try to apply for the same, it is imperative to check the eligibility criteria as well as the documents that are required to be attached. Here is the step-by-step process to apply for the CM ELEVATE process.
- Visit the official website of the CM ELEVATE Portal.
- Click on the “LOGIN” tab where you have to click on the “REGISTER” tab.
- After that, a separate page will open where you have to enter your name, phone, and email along with the username and password of your choice.
- Click on the “CREATE ACCOUNT” tab to register you under the portal.
- After that, you can log in again using your username and password.
- Now, you need to select the scheme that you want to work on and upload the required documents.
- Click on the “SUBMIT” button to apply for the scheme.
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