Bihar Government to Disburse Second Installment of Financial Aid for Entrepreneurs Under Two Key Schemes

The Bihar government is set to distribute the second installment of financial aid to selected entrepreneurs under two key schemes on Thursday. These schemes, Mukhyamantri Udyami Yojana and Bihar Laghu Udyami Yojana, aim to boost entrepreneurship and self-employment. A special event will be held on December 12 at Aranya Bhawan in Patna for this purpose, according to an official statement.

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Launched in 2018, the Mukhyamantri Udyami Yojana offers financial support of up to Rs 10 lakh for project funding. This includes a 50% grant and a 50% loan. By FY24, Rs 2,800 crore had been distributed to 34,455 beneficiaries. For FY25, 7,715 new applicants were chosen through a computerised process, with Rs 55.38 crore being disbursed as the first installment to 2,769 trained beneficiaries.

Focus on Entrepreneurship and Economic Growth

The Bihar Laghu Udyami Yojana was introduced in 2023-24 to assist economically disadvantaged families identified through Bihar's caste-based economic census. It provides a grant of up to Rs 2 lakh for self-employment opportunities. In FY24, Rs 200.49 crore was distributed as the first installment to 40,099 beneficiaries, with 31,000 completing a mandatory three-day training.

The upcoming event highlights the state government's dedication to promoting entrepreneurship and improving the economic status of educated unemployed youth in Bihar. The event will see participation from several ministers including Nitish Mishra, Minister of Industry cum Tourism; Madan Sahni, Minister of Social Welfare; Janak Ram, Minister of Scheduled Caste and Scheduled Tribe Welfare; Hari Sahni, Minister of Backward Class and Most Backward Class Welfare; and Mohd. Jama Khan, Minister of Minority Welfare.

Widespread Distribution Efforts

Senior officials from the Industries Department such as Bandana Preyashi, Secretary, and Alok Ranjan Ghosh, Director of Industries, will also attend the event. The second installment of Rs 1 lakh per beneficiary is now being distributed to eligible recipients under the Bihar Laghu Udyami Yojana.

In addition to the main event in Patna, district magistrates and local representatives will organise distribution programmes at the district level. Beneficiaries from both schemes will receive their respective financial assistance during these events.

This initiative underscores Bihar's commitment to fostering entrepreneurship and supporting economically disadvantaged families through targeted financial assistance schemes.