Nagaland Government Unveils CMMFI 2.0 to Empower Entrepreneurs and Farmers

KOHIMA: The Nagaland government has launched the Chief Minister's Microfinance Initiative 2.0, which aims at providing financial solutions, subsidies, and project support for aspiring entrepreneurs and farmers.

This program covers more than one industry like retailing, farming, hoteliers, transport, and innovation industries. Entrepreneurial activities through provision stores, hydroponics, homestay, gym, software service, and agricultural projects have been eligible to be applied under this scheme as guided by NABARD guidelines. Other unique ideas through mobile food units also come in the eligibility.

For transport-based industries, the CMMFI 2.0 offers subsidies on commercial vehicles. It has alliances with automobile giants such as Tata Motors, Maruti Suzuki Nexa, Kia, and Mahindra. As a result, beneficiaries have access to models such as Tata Yodha and Kia Carens. Schemes including Nagaland Tourism Connect and Nagaland Logistics Connect feature back-ended subsidies as high as 30%.

Project details can be accessed via the CMMFI booklet that is downloadable at www.credit.nagaland.gov.in or by visiting Swavalamban Connect Kendras located within district DC offices. Furthermore, the scheme also offers thorough hand holding that involves services for preparation of Detailed Project Reports as well as setting up contacts with banking institutions. 

To know more or to seek redressal of grievances, it can be reached through a mail at credit.fin-ngl@gov.in, or by calling 9077175990.

This ambitious initiative underscores the commitment of the Nagaland government to encouraging self-reliance and economic growth among its people through access to innovative and sector-specific financial resources.

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