Mukhyamantri Udyami Yojana Bihar 2024: Objective, Benefits, Features, Eligibility & Online Apply

Mukhyamantri Udyami Yojana Bihar: As everyone is aware, the government has launched numerous initiatives to raise the employment ratio. We will be giving you details on one such scheme today. Bihar Chief Minister Entrepreneur Scheme is the name of the program. You will learn all the pertinent details about this program by reading this post. For example, what is the Bihar Mukhyamantri Udyami Yojana, what are its goals, advantages, characteristics, eligibility requirements, crucial paperwork, and how to apply? So, friends, please read our post through to the conclusion if you want to learn everything there is to know about the Bihar Mukhyamantri Udyami Yojana 2024.

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Bihar Chief Minister Entrepreneur Scheme 2024

The government of Bihar introduced this program for people who belong to the Scheduled Caste and Scheduled Tribe categories. The government would offer an incentive of Rs 10 lakh for the establishment of an industry under this initiative. This program was launched by the government to support businesses. Bihar Mukhyamantri Udyami Yojana 2023 is expected to lower unemployment rates and provide financial aid to citizens who are classified as Scheduled Caste or Scheduled Tribe members. in order for him to launch his own business.

The Mukhyamantri Udyami Yojana has a budget of Rs 102 crore, according to the Bihar government. The first installment under the Chief Minister Entrepreneur Scheme in Bihar will be distributed to the recipients on Thursday, November 16, 2023. As part of this initiative, the first installment of Rs 4 lakh each will be deposited into the beneficiaries’ bank accounts. Those who qualify will receive the first installment amount on Thursday under Chief Minister Udyami Yojana 2023–2024. whose instruction is comprehensive. On Thursday at the Bapu Auditorium in Patna, the state capital, the Industries Department of Bihar is hosting a one-day orientation program. Nitish Kumar, the chief minister, will be the program’s chief guest. beneficiaries who entered their current account information into the portal after completing Phase 1 training. They are going to receive the first installment.

Information about Bihar Chief Minister Entrepreneur Yojana

Name of the Scheme	Bihar Chief Minister Entrepreneur Scheme
who launched	Bihar Government
Beneficiary	Scheduled Caste and Scheduled Tribe citizens of Bihar
Objective	To encourage the establishment of industries
Incentives	10 lakh rupees
official website	https://udyami.bihar.gov.in/
Year	2024

The objective of Bihar Chief Minister Entrepreneur Yojana

The state’s small and microindustry development is the primary goal of the Mukyamantri Udyami Yojana. Scheduled Caste and Scheduled Tribe persons will receive financial help through this plan. in order for him to launch his company. Mukyamantri Udyami Yojana will also result in a decrease in the unemployment rate. The youth of Scheduled Tribes and Scheduled Castes will benefit from this in terms of improved livelihood.

The loan will be provided at 1% interest

The state’s residents will be able to support themselves and other citizens through self-employment, which will also enable them to become self-sufficient. The Bihar government is promoting self-employment through a variety of initiatives. For which the government is initiating several kinds of projects. The Chief Minister Udyami Yojana of Bihar is one such program. This program will inspire young people in all categories to launch their own businesses. For which they are eligible to receive a loan of up to Rs 10 lakh. In addition, the government will give a grant equivalent to 50% of the program’s total cost, up to a maximum of ₹ 500,000. The beneficiary would be responsible for paying 1% interest on the remaining ₹ 500,000. The loan amount will

Selection process under Bihar Mukhyamantri Udyami Yojana

A committee comprising eleven members, led by the Additional Chief Secretary of the Industries Department, will oversee the selection process under this schedule. For this initiative, there will be an online application process. which will see the introduction of the portal. Furthermore, the government has released selection rules. Together with their application, all entrepreneurs applying for the Bihar Chief Minister Udyami Yojana must submit details about their project report and budget. The committee will next review the proposal and funding.

Mukhyamantri Udyami Yojana Bihar Incentive Amount

As everyone is aware, the Bihar government has given the go-ahead to launch the Bihar Mukhyamantri Udyami Yojana on April 19. As part of this initiative, all recipients of the Bihar Mukhyamantri Udyami Yojana will receive an incentive payment of Rs 10 lakh. Five lakhs of these ten lakhs would be given out as grants and the other five lakhs as interest-free loans.

The government of Bihar has decided to give young people in the state a grant of Rs 10 lakh, to be paid in two equal installments, so they can launch their own businesses in the upcoming fiscal year in accordance with industry standards. It must be paid in 84 installments by the beneficiary. The Bihar government has allocated Rs 200 crore for this program. If you

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Benefits and features of Bihar Mukhyamantri Udyami Yojana

• The Bihar leader minister entrepreneur scheme gives a rs. 10 lakh incentive from the authorities to set up an industry.
• This scheme is most effectively available to residents who fall under the scheduled caste and scheduled tribe classes.
• The Bihar Mukhyamantri Udyami Yojana 2023 is a strive by means of the Bihar authorities to promote Industry.
• This program will decrease unemployment costs.
• This initiative will also gain the participants of scheduled tribes and scheduled castes in terms of their monetary status.
• For this project, the Bihar government has set out Rs 102 crore in funding.
• Of the ten lakhs that make up the incentive money, five lakhs will be granted as grants and five lakhs as loans with no interest.
• Using this method, industries will be promoted.
• The unemployment rate will go down as a result of this program.
• Better living conditions would be provided for inhabitants of Scheduled Castes and Scheduled Tribes.
• The entire loan amount must be deposited in 84 installments.
• Interest will not be charged on the loan.
• The government is going to finance ₹25,000 for project monitoring and training.
• It is required of the recipient to self-declare in order to obtain a loan from any nationalized bank.

Key points of Bihar Chief Minister Entrepreneur Yojana

• Only new business owners will benefit from the Bihar Mukhyamantri Udyami Yojana: Only new business owners who establish new industries will receive advantages. All recipients will also receive the benefits of the Bihar Industrial Investment Promotion Policy.
• After the beneficiaries of this initiative are chosen, ₹25,000 per unit will be given as financial support for training.
• Grant amount: Up to ₹ 500000 in grants, or 50% of the amount given via the Bihar Mukyamantri Udyami Yojana, will be given.
• Loan repayment schedule: This plan requires a deposit of 50% of the project cost, up to a ₹ 500000 interest-free loan. The beneficiary must deposit this money in 84 equal installments spread over a period of seven years.

Eligibility to apply

Women and young entrepreneurs can apply for the Mukyamantri Udyami Yojana under the categories of Scheduled Caste, Scheduled Tribe, and Extremely Backward Class. All of these kinds of entrepreneurs fall under the following eligibility.

• An everlasting resident of Bihar is a prerequisite for the utility.
• you need to have a present-day account a good way to take gain of this provider.
• An entrepreneur may establish a proprietorship company on his private pan.
• Applicants must be between the a while of 18 and 50.
• The benefits of this plan are solely available to proprietorships, partnerships, constrained liability groups, and private restricted corporations.
• A 10+2 or intermediate, it, polytechnic, diploma, or comparable education is required for the utility.
• Scheduled caste, scheduled tribe, most backward elegance, girls, or teens are the categories that the candidate needs to fall inside.

important documents

The following is some essential documentation for applicants who belong to the Most Backward Class, Scheduled Tribe, Scheduled Caste, Women, and Youth Entrepreneurship.

• Address proof
• matriculation certificate
• Intermediate or equivalent qualification certificate
• sample signature
• PAN card
• Aadhar card
• passport size photo
• Caste certificate (in father’s name)
• Current account with the date of issue proof

How To Apply For Bihar Udyami Yojana Online Apply 2024?

To apply under Bihar Udyami Yojana Online Apply 2024, you will have to follow these steps, which are as follows-

• In order to apply for the Bihar Udyami Yojana Online Apply 2024, you must first go to the official website’s home page, which looks something like this.
• Upon accessing the main website, you will have the choice to sign up for this program.
• which, in order to finish the registration process, you must click.
• You will then obtain its login ID and password, which you must remember.
• Following approval of your registration, you need to access the portal by logging in.
• Following your login, a new page will appear in front of you and look like this.
• You must scan and upload each of the necessary documents. Afterward, you must click the submit button to receive a receipt.

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Contact Details

We hope that this text has given you all of the critical facts about the Mukyamantri Udyami Yojana. you could get assistance via calling the hotline-wide variety or sending an email if you are nonetheless having issues. aren’t. the subsequent is the hotline range and email cope with.

• Helpline Number- 18003456214
• Email Id- dir-td.ind-bih@nic.in

FAQ’s

Q: When is the last date of the Bihar Entrepreneur Scheme?

Ans: The Bihar Small Entrepreneur Scheme is now accepting applications. The deadline for applications is February 20. You can submit an online application to the Industries Department, whose policies are available on their website.

Q: Who can be an entrepreneur?

Ans: This plan is only available to proprietorships, partnerships, limited liability companies, and limited partnerships. The applicant must have completed 10+2, Intermediate, ITI, Polytechnic, Diploma, or an equivalent program of study. The candidate must fall into one of the following categories: women, youth, most backward class, scheduled caste, or scheduled tribe.

Suggested Link: Scholarship Portal, Indnewsupdates.com

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