Bihar government provides loan up to Rs 10 lakh for setting up new companies with 50% subsidy! #News PM Yojna

Bihar Entrepreneur Scheme 2024: The Industries Department of the Government of Bihar operates the Mukhyamantri Udyami Yojana, which aims to provide employment loans to the residents of Bihar. This initiative provides annual direct loan facility for setting up new businesses. Commonly known as the Mukhyamantri SC/ST/OBC/Women/Yuva Udyami Yojana, it provides loans up to Rs 10 lakh with a subsidy of up to 50 percent in the industrial sector.

There is an important news for those who want to take advantage of Bihar Udyam Yojana 2024. The application details, required documents, eligibility criteria and procedure to get a loan up to Rs 10 lakh are described below. Read this article completely to apply online and get more information about Bihar Mukhyamantri Udyam Yojana 2024.

What is Bihar Udyami Yojana 2024?

Bihar Udyam Yojana 2024 launched by the Industries Department of the Government of Bihar aims to promote the establishment of new companies within the state. Recognized as Chief Minister Scheduled Caste/Scheduled/Extremely Backward/Women/Youth Entrepreneurship Scheme, this scheme facilitates loans up to Rs 10 lakh with 50% subsidy.

Apart from financial assistance, the government also provides many facilities to the youth. It is worth noting that last year many youths got this benefit through Bihar Udyam Yojana. Both male and female entrepreneurs belonging to SC/ST/OBC/Women/Youth categories are eligible to apply for assistance under the Chief Minister Udyam Yojana.

Who is eligible for Bihar Udyamya Yojana 2024?

The Industries Department has outlined specific eligibility criteria for those who wish to avail benefits under the Bihar Udyam Yojana 2024. To be eligible for the Bihar Udyam Yojana, applicants must meet these qualifications. Only those who fulfil the conditions mentioned below can avail the benefits of the scheme:

• Applicant must be a permanent resident of Bihar.
• Preference is given to Scheduled Caste, Scheduled Tribe, unemployed youth and women.
• Candidates must possess at least Intermediate, ITI, Polytechnic or equivalent qualification.
• Minimum age requirement is 18 years, Maximum age is 50 years.
• The applicant must have a personal current account (or a current account in the name of the company) where the sanctioned amount is sent via RTGS.
• For proprietorship company personal PAN of the entrepreneur is required.
• The current account should be in the name of the proposed company.
• Applicants must set up and register their own company or organization. Options include proprietorship, partnership or private limited company structures.

Documents required for Bihar Udyam Yojana 2024

Here is the document checklist required to apply for Bihar Udyam Yojana 2024:

• Age Verification Documents (Matriculation Certificate, Birth Certificate, PAN Card, Aadhaar Card)
• Aadhar card
• Residence proof
• caste certificate
• Monthly Family Income Certificate (issued by local office)
• Bank details/cancelled cheque/passbook
• signature photo
• Disability Certificate (if required)

What are the benefits of Bihar Udyam Yojana 2024?

Bihar Udyam Yojana 2024 provides special incentives for setting up new industries in line with Bihar Industry Investment Promotion Policy 2016. A maximum loan of Rs 10,00,000 is provided under this scheme with special incentives. Grant of 50% of the sanctioned amount, only Rs 5,00,000.

Additionally, local girls will be reimbursed only 50% of the total project cost per unit, up to a maximum of Rs. 5,00,000 as an interest-free loan, payable in 84 equal installments over 7 years.

List of schemes included in Bihar Entrepreneurship Scheme 2024

Bihar Udyamya Yojana 2024 offers various schemes for setting up industries, allowing applicants to select from a list and avail loans accordingly. To benefit from this scheme, it is important to review the schemes listed below and find the right plan for your business setup.

• IT Business Center (Web Software Development & Web Design Center)
• Manufacture of steel furniture, cabinets, boxes/trunks/racks
• ice cream production
• Production of flour, gram flour and gram flour
• Electric vehicle combination
• Auto Garage
• Concrete Hume Pipe(RCC Spun Hume Pipe)
• Computer Hardware Assembly Maintenance and Networking
• Knitting Machines & Fabric
• Production of corn flakes
• Fine Manufacturing
• agricultural equipment manufacturing unit
• Banana Fiber Manufacturing Unit
• Gate Grill Fabrication Unit/Welding Unit
• Leather and rexine sheet covers for vehicles
• Manufacture of leather shoes
• Manufacturing of leather goods like bags, belts, wallets and gloves.
• Production of Jam/Jelly/Sauce
• Soap powder, soap and shampoo
• Disposable diapers and sanitary napkins
• dry cleaning
• Oil Plant
• Lentil Plant
• Notebook/copy/file/folder creation
• Animal feed production
• Powerloom Unit
• PVC Shoes
• Pathological Examination Center (Medical Diagnostic Center)
• Poha/Churna Manufacturing Unit
• Plastic products/boxes/bottles
• Juice Unit
• Flexographic Printing
• Carpentry and wood furniture workshop
• Bamboo Products & Furniture Manufacturing Unit
• Seed Processing & Packaging
• Manufacture of cane furniture
• Bakery products (bread, biscuits, rusks, etc.)
• bedspread with pillow cover set
• Carpentry
• House processing
• Honey processing
• Spice production
• poultry feed production
• Manufacture of ready-made garments
• rolling shutter
• Cement mesh, doors, windows etc.
• Stabilizer/Inverter/UPS/CVT Assembly
• Sports Shoes
• light commercial vehicle body building
• hospital bed/trolley manufacturing unit
• Setting up of Dhaba/Hotel/Restaurant/Meals on Wheels

How to apply for Bihar Udyamya Yojana 2024?

For all the youth of Bihar who wish to apply for the Bihar Udyam Yojana 2024, here is a step by step guide:

Step 1 – Registration on the portal:

1. Bihar Chief Minister Entrepreneurship Scheme 2024-25 official website Go to the home page of
2. register Click on the option.
3. Enter your Aadhaar card number and desired password to login.
4. Fill the registration form carefully.
5. Submit the form and get the receipt.

Step 2 – Submission of Application:

1. Log in to the portal with your credentials.
2. Fill the application form correctly.
3. Scan & upload all the required documents.
4. Click on Submit and keep a printed copy of the receipt for your records.
5. By following these steps interested candidates can easily apply online and avail the benefits of this scheme.

Bihar Udyam Yojana 2024 Selection Process

Last year, the beneficiaries of Bihar Udyam Yojana 2024 were selected through random lottery system. Only those selected through this scheme get benefits under this scheme. Similarly, this year also the beneficiaries can be selected through lottery system. The committee will review the applications within 15 days and forward them to the District Career Center Manager for physical verification.

After screening, the selected candidates will have to undergo two weeks of training at designated institutes. After this, the committee disburses the first installment of funds based on the detailed project report (DPR) of the project. The total amount of the scheme is disbursed to the beneficiaries in three easy installments. Once selected, candidates will get Rs 25,000 per unit for training purposes.

You can get a loan of up to Rs 50,000 even with a bad CIBIL score, see here which are the loan apps with low CIBIL score?