A major chunk of India is young and young minds are energetic and full of new ideas; capable of doing anything. However, the majority of them are full of zeal but lack the resources they want to achieve their life goals or financial success. To overcome this, the state government of Bihar initiated Mukhyamantri Udyami Yojana under the leadership of Chief Minister Nitish Kumar, through which self-employment opportunities will be given to youngsters of Bihar. In this blog, we are going to discuss all the different aspects of this scheme, the benefits of this, the application procedure, and more important information related to it.
What is the Bihar Mukhyamantri Udyami Yojana 2024?
The government sanctions loans to SC, ST, OBC, women, and youth groups, starting their businesses; then support makes the economy of the country good; youths also become free. In 2024, many jobless youth programs were initiated by the Bihar state government. So these kinds of programs help them explore new scopes and their petty businesses. The main objective of such programs is to help the youth in setting up their business.
When was the Bihar Mukhyamantri Udyami Yojana?
The Government of Bihar launched the Mukhyamantri Udyami Yojana in 2018. This scheme was launched by Chief Minister Nitish Kumar, to provide self-employment opportunities to the youth of Bihar and make them self-reliant. Nitish Kumar’s government of Bihar had created this scheme, especially for the youth of Scheduled Castes, Scheduled Tribes, and Other Backward Classes so that they can improve their livelihood.
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What is the objective of the Chief Minister’s Entrepreneur Scheme?
One of the main objectives behind the launch of Mukhyamantri Udyami Yojana was to provide financial support to the youth of the state and encourage them to start their own business. With this, the youth will not only be able to become self-reliant but will also be able to make a significant contribution to the economic development of the state. At the time of announcing the scheme, Chief Minister Nitish Kumar had said that this initiative is an important step towards the empowerment of youth and will accelerate the economic development of Bihar.
Facilities available under the Mukhyamantri Udyami Yojana Bihar
Financial assistance: Under this scheme, youth are given loans to start a business. This loan is without interest so young entrepreneurs do not have to face financial burdens.
Training and Consultancy: Business Management, Marketing for Young Entrepreneurs The youth are given training in the fields of business management, marketing, and financial management. Apart from this, they are also provided with counseling to deal with various business challenges.
Market Availability: Bihar government helps the youth by providing a market for their services and products which gives them an opportunity to grow their business.
Technical Support: Youth are given training to use new technology so that they can run their business in a modern way.
Eligibility of the Bihar Mukhyamantri Udyami Yojana
The following eligibility criteria have been prescribed for availing the benefits of Mukhyamantri Udyami Yojana:
- Age: To apply for the scheme, you must be between 18 and 50 years old.
- Educational Qualification: The minimum educational qualification of the applicant must be a 10th pass.
- Caste Certificate: Applicant needs to submit a Caste Certificate for SC, ST, and OBC applicants.
- Permanent Resident: To apply for this scheme, you must be a permanent resident of Bihar.
Procedure for applying to Bihar Mukhyamantri Udyami Yojana
Online Registration: First, the applicant must sign up online at the official website. For this, they need to provide their information, educational background, and business plan details.
Document Upload: Once the user is registered for the required documents upload with his or her identity card, caste, resident, and educational certificate.
Fill Application Form: After uploading the documents, you need to fill in the application form. Fill in clear business plans, financial needs, and other important details.
Submit the form: Once all the details are filled and all the documents uploaded, the applicant can submit his or her application form. Once the application form is submitted, the applicant will get a receipt for it. The receipt would carry along the application number and all the important details.
Interview and acceptance: We will call the applicants over for an interview after our scrutiny of the application form; if they do well at the interview, then these applicants will get a loan from this scheme.
Offline Application:
- Collect the application form from the nearest government office or nodal agency.
- Fill out the application form and attach copies of relevant documents.
- Submit the form to the respective department.
Documents Needed for Bihar Mukhyamantri Udyami Yojana
1. Permanent residence certificate
2. Matriculation certificate
3. Intermediate or equivalent qualification certificate
4. Caste certificate
5. Organization certificate
6. Aadhaar card and PAN card
7. Photograph of the applicant
8. Specimen signature
9. Bank statement along with a canceled cheque
Assistance provided through the Mukhyamantri Udyami Yojana Bihar
The assistance amount given to the youth under the Chief Minister Udyami Yojana is distributed in the following manner.
Initial Loan: In the scheme, the initial loan to the youth will be up to Rs 10 lakh.
Interest-free loan: There is no interest charged on this loan, which does not put any financial burden on the young entrepreneurs.
Grant: 50% of the assistance given by the government is in the form of a grant, which is non-refundable.
Comparison with Similar Schemes
| Parameter | Mukhyamantri Udyami Yojana | PMEGP (Prime Minister’s Employment Generation Programme) |
| Target Audience | State residents | Nationwide applicants |
| Financial Assistance | ₹5-10 lakh | Up to ₹25 lakh |
| Focus | State-specific needs | General employment generation |
Final Word
Mukhyamantri Udyami Yojana is one of the programs that will ensure young people become independent. This program offers job opportunities to youths and enables them to be involved in the country’s financial activities actively. The country’s economy become stronger. The youth of Bihar should take proper advantage of this plan to become independent.
FAQ’s
Q: Who is eligible for the scheme?
Ans: People between 18 and 45 years old, who have completed at least 10th grade and live in the state where this program is offered.
Q: What is the loan amount under the scheme?
Ans: Entrepreneurs can get loans between ₹5 lakh and ₹10 lakh.
Q: Is there a subsidy available?
Ans: Subsidies can be between 25% and 35% of the loan amount.
Q: How can I apply for the scheme?
Ans: You can submit applications online through the official portal or in person at government offices.
Q: Are training programs included?
Ans: Beneficiaries receive training in how to manage and operate a business.
Q: Can women entrepreneurs apply?
Ans: The scheme encourages women to take part.
