Bihar Government Selects 8,584 Beneficiaries Under Mukhyamantri Yudyami Yojana for Industry Development

The Bihar government has identified 8,584 individuals to benefit from the Mukhyamantri Yudyami Yojana. These beneficiaries are set to receive financial aid of up to Rs 10 lakh each to establish industries. The Department of Industries conducted a computerized randomization process on Friday to select these beneficiaries for the financial year 2024-25, as per an official statement.

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Selection Process and Beneficiary Details

During this selection process, 7,153 applicants were provisionally chosen, while 1,431 were placed on a waiting list. Present at the event were Nitish Mishra, Minister of Industries; Bandana Preyashi, Secretary of the Department of Industries; Alok Ranjan Ghosh, Director of Industries; Shekhar Anand, Director of Technical Development; Nikhil Dhanraj Nippanikar, Director of Handloom and Sericulture; and Rana Singh, Director of CIMP.

The state government has launched several schemes under Chief Minister Nitish Kumar's leadership. These include the Mukhyamantri Anusuchit Jaati/Anusuchit Janjaati Yudyami Yojana, Mukhyamantri Ati Pichhra Warg Udyami Yojana, Mukhyamantri Mahila Udyami Yojana, Mukhyamantri Yuva Udyami Yojana, and Mukhyamantri Alpasankhak Udyami Yojana. These initiatives aim to provide self-employment opportunities for educated and unemployed youth in Bihar.

Application Scrutiny and Categories

For the financial year 2024-25, out of 541,667 applications received, 9,247 were provisionally selected. An additional 7,153 new applicants were chosen through a computerized randomization system from the remaining applications. Moreover, 1,431 applicants have been placed on a waiting list. These applications will be scrutinized at the headquarters level before publishing the eligible list on the Udyami Portal.

Among these applicants are 1,394 from Scheduled Castes/Scheduled Tribes, 2,109 from Extremely Backward Classes, 1,373 women, 1,911 youth, and 366 from minority communities. Additionally, 20% of applications from each category and district will also be placed on the waiting list.

Official Statements and Scheme Benefits

Nitish Mishra expressed gratitude towards the Department of Industries for supporting aspirants in achieving their dreams. "I am really grateful to the department of Industries that we are giving a chance to all the aspirants to get the best support and help that they require. We are with them in their journey and we are all set to help them with extra funding they need in order to fulfill their dreams."

Preyashi highlighted that the scheme caters to all societal sections by offering comprehensive support. "We want to increase the training programmes and give the best support to all the aspirants under this scheme. Entrepreneurs are showing a lot of interest and we are ready to extend our handholding support, and in turn they will create more employment," she said.

Financial Assistance Structure

Under this scheme, beneficiaries receive up to Rs 10 lakh for setting up new industries. This amount is split equally between a grant and a loan. The loan is provided at an annual interest rate of just 1%. As of the financial year 2023-24, assistance totalling Rs 2,832.17 crore has been distributed among 34,455 beneficiaries.

Ghosh mentioned that this year marks the second time the selection process used a computerized randomization system. "The Chief Ministers Entrepreneurship Scheme is an ambitious project of the state government, for which we have already distributed the second installment among the beneficiaries," he said.

This initiative aims to empower youth economically and promote self-reliance. It is seen as a crucial step towards making Bihar an industrially robust and economically advanced state. Beneficiaries under this scheme are expected to contribute significantly to Bihar's economic development by creating new entrepreneurial opportunities.