Patna: The Bihar government will on Thursday disburse the second installment of financial assistance to select entrepreneurs under the state's two flagship schemes - Mukhyamantri Udyami Yojana and the Bihar Laghu Udyami Yojana.
The Department of Industries will host a special programme on December 12 at Aranya Bhawan, Patna, to distribute the second installments of financial assistance to beneficiaries, an official statement said on Wednesday.
"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.
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Minister of Industry cum Tourism Nitish Mishra, Minister of Social Welfare Madan Sahni, Minister of Scheduled Caste and Scheduled Tribe Welfare Janak Ram, Minister of Backward Class and Most Backward Class Welfare Hari Sahni and Minister of Minority Welfare Mohd. Jama Khan will attend the event. Senior officials from the Industries Department, including Bandana Preyashi, Secretary, and Alok Ranjan Ghosh, Director of Industries, will also be present.
Bihar Distributes Rs 255.87 Crore in Financial Aid to Beneficiaries Under Udyami Yojanas
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.
A total of Rs 2,800 crore has already been distributed to 34,455 selected beneficiaries under this initiative by FY24. As many as 7,715 new applicants have been selected through a computerised randomisation process, and Rs 55.38 crore is being disbursed as the first installment to 2,769 trained beneficiaries in FY25.
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.
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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 programs at the district level, and beneficiaries of both schemes will receive their respective financial assistance.
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