Bihar: The Bihar government will disburse the second installment of financial assistance on Thursday to select entrepreneurs under the state's two flagship schemes- 'Mukhyamantri Udyami Yojana' and the 'Bihar Laghu Udyami Yojana'.
"This event exemplifies the state government's commitment to encouraging entrepreneurship, promoting self-employment and uplifting the economic status of Bihar’s educated unemployed youth," it said.
The event will be attended by 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. Senior officials from the Industries Department, including Bandana Preyashi, Secretary, and Alok Ranjan Ghosh, Director of Industries, will also be present.
Know about 'Mukhyamantri Udyami Yojana'
Launched in 2018, Mukhyamantri Udyami Yojana provides financial assistance of up to Rs 10 lakh for project funding, comprising 50 per cent as grants and the remaining 50 per cent as loans.
By FY24, a total of Rs 2,800 crore has already been distributed to 34,455 selected beneficiaries under this initiative. For FY25, as many as 7,715 new applicants were selected through a computerised randomisation process, and Rs 55.38 crore is being disbursed as the first installment to 2,769 trained beneficiaries.
Know about 'Bihar Laghu Udyami Yojana'
The Bihar Laghu Udyami Yojana, introduced in 2023-24 to support economically disadvantaged families identified through Bihar's caste-based economic census, provides a grant of up to Rs 2 lakh for self-employment opportunities.
In FY24, a total of Rs 200.49 crore was distributed as the first installment to 40,099 beneficiaries, with 31,000 completing a mandatory three-day training. The second installment of Rs 1 lakh per beneficiary is now being distributed to eligible recipients.
In addition to the main event in the state capital, district magistrates and local representatives will also hold distribution programmes at the district-level and beneficiaries of both schemes will receive their respective financial assistance.
