In a meeting of the State Monitoring Committee for Bihar’s Small Entrepreneur Scheme on late Monday evening, it was announced that 50,000 new beneficiaries will receive help under the scheme in the 2024-25 financial year.
Additionally, 9,901 beneficiaries from last year's unfilled target will be selected based on set criteria. A 20 per cent waiting list will also be created.
For the 2023-24 financial year, 40,099 applicants were selected through a computerised randomisation process on February 23, 2024. However, 19,901 cases were rejected due to missing documents. Each selected beneficiary receives Rs 50,000, totaling Rs 200.49 crore paid out.
The chosen beneficiaries will undergo a three-day training session at Upendra Maharathi Shilp Sansthan in Patna. Out of the 40,099 who received the first installment, training for 33,350 has been completed.
What is the Bihar Small Entrepreneur Scheme? The aim of the Bihar Laghu Udyami Yojana is to help poor families become self-reliant by enabling them to start their own businesses, offering a way out of poverty for unemployed youth.
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How financial aid is given:
A total of Rs 2,00,000 is provided in three phases:
- Rs 50,000 in the first phase
- Rs 1,00,000 in the second phase
- Rs 50,000 in the third phase
Eligibility:
Permanent residents of Bihar with a monthly income of Rs 6,000 or less.
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Required Documents:
- Permanent Residence Certificate
- 10th Certificate (for age verification)
- Intermediate or equivalent qualification certificate
- Caste Certificate
- Aadhaar Card and PAN Card
- Income Certificate
- Photograph
- Signature specimen
- Bank statement
- Cancelled cheque
Other Conditions:
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