Keywords
Microfinance
OLS Regression
Public Policy
Self-employment
How to Cite
Abstract
This study examines the impact of the Chief Minister's Rojgar Yojana (CMRY), a self-employment loan scheme of the Government of Goa, on employment generation in the state. Secondary data on CMRY funds utilized and employment generated over the period 2003-04 to 2020-21 were obtained from Economic Development Corporation (EDC) Ltd., Goa. Ordinary Least Squares (OLS) regression analysis was employed to evaluate the effectiveness of the scheme in generating employment. The findings reveal a statistically significant and positive relationship between funds utilized under the CMRY programme and employment generation (Adjusted R2 = 0.893; β = 0.763; p < 0.001). The results indicate that increased financial assistance under the scheme contributes significantly to the creation of self-employment in Goa. The study provides empirical evidence on the effectiveness of state-sponsored entrepreneurship programmes and offers useful policy insights for government agencies and policymakers involved in employment generation initiatives.
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