The Government of Bihar has launched the “Mukhyamantri Udyami Yojana” to provide employment opportunities to unemployed youth and promote the industrial sector. Under this scheme, residents of Bihar who wish to start their own business can avail loans up to ₹10 lakh, with a subsidy of up to 50% included. This article explores the key details of this initiative, guiding you through the application process, eligibility, required documents, status, list and the benefits it offers.
What is Bihar Udyami Yojana?
The Bihar Udyami Yojana, also known as the Chief Minister Entrepreneur Scheme, is a government-backed program providing financial assistance to eligible individuals in Bihar looking to start or expand their own businesses. The scheme offers loans up to ₹10 lakh, with a substantial subsidy of up to 50% (₹5 lakh) of the sanctioned amount.
Key Features of Bihar Udyami Yojana 2024-25
| Feature | Details |
|---|---|
| Loan Amount | Maximum ₹10 lakh |
| Subsidy | Up to 50% of the sanctioned amount (₹5 lakh) |
| Loan Repayment Period | 7 years (84 equal installments) |
| Eligible Applicants | Permanent residents of Bihar, including SC/ST, unemployed youth, or women |
| Educational Qualification | Minimum Intermediate, ITI, or Polytechnic |
| Age Limit | 18 to 50 years |
Eligibility Criteria for Bihar Udyami Yojana
- Permanent Residency: The applicant must be a permanent resident of Bihar.
- Social Category: Must belong to SC/ST, unemployed youth, or women category.
- Educational Qualification: Must have passed Intermediate, ITI, Polytechnic, or an equivalent educational qualification.
- Age Limit: Between 18 and 50 years.
- Bank Account: Must have a personal current account or a firm’s current account.
- Business Registration: Should register a proprietorship, partnership firm, or private limited company.
Documents Required for Application
| Document | Purpose |
|---|---|
| Aadhaar Card | Proof of identity |
| Caste Certificate | Proof of social category |
| Address Proof | Proof of permanent residency |
| PAN Card | Proof of income and tax compliance |
| Passport-size Photograph | For identification |
| Bank Passbook | Proof of bank account |
| 10th Class Mark Sheet | Proof of age |
| Educational Qualification Certificate | Proof of educational eligibility |
| Family Income Certificate | Proof of financial status |
| Disability Certificate (if applicable) | Proof of disability |
Online Application Process for Bihar Udyami Yojana 2024-25
- Visit the official website of Bihar Udyami Yojana at udyami.bihar.gov.in.
- Click on the “Apply Online” button to access the registration page.
- Fill in the required details such as name, mobile number, email ID, occupation, type of application, and gender.
- Click on “Get OTP” for verification.
- Enter the OTP and complete the registration process.
- Log in using your registration number and password.
- Fill out the application form and upload the required documents.
- Review and submit the application form.
- Take a printout of the submitted form for future reference.
Key Dates for Bihar Udyami Yojana 2024-25
| Activity | Important Dates |
|---|---|
| Application Starting Date | July 1, 2024 |
| Last Date to Apply | August 16, 2024 (Extended) |
| Mode of Application | Online |
The Bihar Udyami Yojana is a remarkable opportunity for aspiring entrepreneurs and small business owners in Bihar to turn their dreams into reality. By offering affordable financing and a generous subsidy, the scheme empowers individuals to start or expand their businesses, contributing to the state’s economic growth and development. If you’re a resident of Bihar and meet the eligibility criteria, seize this chance to unlock your entrepreneurial potential and embark on a journey of success.