Bihar

• 26 Sep 2023

Minority Entrepreneur Scheme’ will be started in Bihar

Why In News?

On September 25, 2023, Chief Minister Nitish Kumar's cabinet approved 'Minority Entrepreneur Scheme' to promote entrepreneurship and increase self-employment among the minority youth of the state.

Key Points:

• Rs. 100 crores has been made available in the Entrepreneur Scheme. Under this scheme, the total project cost (Per Unit) maximum of Rs. 10 lakhs will be given to the beneficiaries setting up industries.
• Out of this, 50 percent amount will be in the form of loan (maximum Rs. 5 lakh) and 50 percent amount will be in the form of grant (maximum Rs. 5 lakh).
• Under this scheme, funds will be given only for setting up new industries. This scheme will be effective from the date of issue of the resolution.
• Additional Chief Secretary said that people belonging to the minority category will be eligible for this scheme. Women belonging to the minority category will be eligible to apply for either the Chief Minister Minority Entrepreneur Scheme or the Chief Minister Mahila Entrepreneur Scheme as per their wish.
• It is known that in the past Chief Minister Scheduled Caste, Scheduled Tribe, Extremely Backward Class, Young Entrepreneur, Women Entrepreneur Scheme has been implemented.