Bihar

• 29 Feb 2024

Bihar Small Entrepreneur Scheme 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).