Bihar Small Entrepreneur Scheme 2024 | 29 Feb 2024
Why in News?
Recently, the Bihar government, under ‘Bihar Small Entrepreneur Scheme 2024’ granted financial assistance of Rs 2 lakh per family to almost 94 lakh families.
Key Points
- The Chief Minister initiated the Bihar Small Entrepreneur Scheme to assist financially struggling families in starting their own businesses.
- Under the scheme 50 beneficiaries were selected through a computer randomisation system.
- According to the officials, 2.76 crore people in the state participated in a caste-based census, with 94 lakh families earning less than Rs 6000 per month.
Bihar Small Entrepreneur Scheme
- Launched in 2024, the scheme offers financial support of Rs 2 lakh per person for self-employment and entrepreneurship.
- Under the scheme, investors can fund small-scale/cottage industries. Such as handicrafts, textiles, service sectors, and electrical items, under the scheme.
- In the event of an unnatural or accidental death, workers employed in unorganized sectors will now receive compensation of Rs. 2 lakhs (previously Rs. 1 lakh) and Rs. 1 lakh (previously Rs. 75,000).