The Bihar Udyami Yojana 2024, launched by the Bihar Government’s Department of Industries, aims to promote the establishment of new enterprises within the state. This scheme, also recognized as the Chief Minister Scheduled Castes/Scheduled Tribes/Extremely Backward Classes/Women/Youth Entrepreneurs Scheme, provides loans up to ₹10 lakhs with a 50% subsidy, effectively offering a discount of ₹5 lakhs.
In addition to financial assistance, the government provides several other benefits to the youth. Notably, many young entrepreneurs have availed these benefits through the Bihar Udyami Yojana in the past year. Both men and women entrepreneurs from SC/ST/OBC/Women/Youth categories are eligible to apply for support under the Chief Minister’s Entrepreneurial Scheme.
Who is Eligible for the Bihar Udyami Yojana 2024?
The Department of Industries has outlined specific eligibility criteria for those seeking benefits under the Bihar Udyami Yojana 2024. To be eligible for this scheme, applicants must meet the following qualifications. Only those who fulfill these criteria will be able to benefit from the scheme.
Eligibility Criteria for Bihar Udyami Yojana 2024
- Applicants must establish and register their own firm or company. Options include sole proprietorship, partnership, or private limited company structures.
- Applicants must be permanent residents of Bihar.
- Priority is given to Scheduled Castes, Scheduled Tribes, unemployed youth, and women.
- Applicants should have at least an intermediate, ITI, polytechnic, or equivalent qualification.
- The minimum age requirement is 18 years, and the maximum age is 50 years.
- The applicant must have a personal current account (or a current account in the firm’s name) where the approved amount will be transferred via RTGS.
- For ownership, the firm must have the entrepreneur’s personal PAN.
- The current account should be in the name of the proposed firm.
Required Documents for Bihar Udyami Yojana 2024
Here is a checklist of the essential documents required to apply for the Bihar Udyami Yojana 2024:
- Age Verification Documents (e.g., matriculation certificate, birth certificate, PAN card, Aadhar card)
- Aadhar Card
- Residential Proof
- Caste Certificate
- Monthly Family Income Certificate (issued by the local office)
- Bank Statement/Canceled Cheque/Passbook
- Signature Photograph
- Disability Certificate (if applicable)
Benefits of Bihar Udyami Yojana 2024
Under the Bihar Udyami Yojana 2024, special benefits are provided for the establishment of new industries, in line with the Bihar Industrial Investment Promotion Policy 2016. Key advantages of this scheme include:
- Additional Provisions for Local Girls: Local female entrepreneurs are eligible for a unique provision where they need to pay only 50% of the total project cost per unit. They can avail of an interest-free loan up to ₹5,00,000, which is repayable in 84 equal installments over 7 years.
- Loan Provision: Up to ₹10,00,000 can be provided as a loan for setting up new industries, with a special incentive included.
- Subsidy: 50% of the approved amount, up to a maximum of ₹5,00,000, is given as a grant.
How to Apply for Bihar Udyami Yojana 2024?
For those interested in applying for Bihar Udyami Yojana 2024, here is a step-by-step guide:
- Step 1 – Register on the Portal:
Visit the homepage of the official website for the Bihar Chief Minister’s Entrepreneur Scheme 2024-25. - Click on the registration option.
- Enter your Aadhaar card number and desired password to log in.
- Carefully fill out the registration form.
- Submit the form and obtain a receipt.
- Step 2 – Submit the Application:
Log in to the portal using your credentials. - Complete the application form accurately.
- Scan and upload all required documents.
- Click on “Submit” and keep a printed copy of the receipt for your records.
By following these steps, interested applicants can easily apply online and benefit from the scheme.
Apply Here :
Bihar Udyami Yojana 2024 Selection Process
Last year, beneficiaries for the Bihar Udyami Yojana 2024 were selected through a random lottery system. Those chosen by this process were the only ones to receive benefits under the scheme. Similarly, this year, the selection of beneficiaries may also be done via the lottery system. The committee reviews the applications within 15 days before forwarding them to the District Industry Center Manager for physical verification.
Once the screening is complete, selected candidates must undergo a two-week training at designated institutions. Following this, the committee disburses the first installment of funds based on the project’s Detailed Project Report (DPR). The total project amount is distributed to beneficiaries in three easy installments. Upon selection, applicants receive ₹25,000 per unit for training purposes.
