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Mukhyamantri Udyami Yojana : Are you a resident of Bihar who wants to start your own business? Do you belong to the Scheduled Caste, Scheduled Tribe, Extremely Backward Class, Women, or Youth category? Do you need financial assistance and training to set up your enterprise? If yes, then you should know about the Mukhyamantri Udyami Yojana, a scheme launched by the Bihar government to promote entrepreneurship among the marginalized sections of the society.
In this article, we will tell you everything you need to know about this scheme, such as what is the scheme, what is its objective, how to apply, what are the eligibility criteria, what are the benefits, and what are the documents required. We will also answer some frequently asked questions about the scheme. So, read on and find out how you can become an entrepreneur with the help of the Mukhyamantri Udyami Yojana.
Table of Contents
What is the Mukhyamantri Udyami Yojana?
The Mukhyamantri Udyami Yojana is a scheme launched by the Bihar government in 2018 to provide financial assistance and training to the citizens of the state who want to establish their own self-employment. The scheme is aimed at creating employment opportunities and boosting the industrial development in the state. The scheme is implemented by the Department of Industries, Government of Bihar.
What is the objective of the Mukhyamantri Udyami Yojana?
The objective of the Mukhyamantri Udyami Yojana is to encourage and support the entrepreneurship among the citizens of Bihar who belong to the Scheduled Caste, Scheduled Tribe, Extremely Backward Class, Women, or Youth category. The scheme provides loans up to Rs. 10 lakh at a subsidized interest rate and a credit guarantee to the beneficiaries to start their own enterprises. The scheme also provides necessary training and guidance to the beneficiaries to run their businesses successfully. The scheme aims to create a conducive environment for the growth and development of the micro, small, and medium enterprises (MSMEs) in the state.
How to apply for the Mukhyamantri Udyami Yojana?
The application for the Mukhyamantri Udyami Yojana can be done online through the official website of the scheme. The website is https://udyami.bihar.gov.in/. The applicants have to register themselves on the website and fill up the online application form with the required details and documents. The applicants have to select the category (A, B, or C) under which they want to apply. The category-wise details are as follows:
- Category A: This category is for the applicants who want to start a manufacturing or service enterprise with a project cost up to Rs. 10 lakh. The applicants will get a loan of Rs. 10 lakh at a subsidized interest rate of 1% per annum. The applicants will also get a credit guarantee of 80% of the loan amount from the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). The applicants will also get a subsidy of Rs. 50,000 for the purchase of machinery and equipment. The applicants will also get a training of 15 days from the Entrepreneurship Development Institute of India (EDII) or any other recognized institution.
- Category B: This category is for the applicants who want to start a manufacturing or service enterprise with a project cost above Rs. 10 lakh and up to Rs. 25 lakh. The applicants will get a loan of Rs. 25 lakh at a subsidized interest rate of 4% per annum. The applicants will also get a credit guarantee of 75% of the loan amount from the CGTMSE. The applicants will also get a subsidy of Rs. 1 lakh for the purchase of machinery and equipment. The applicants will also get a training of 30 days from the EDII or any other recognized institution.
- Category C: This category is for the applicants who want to start a manufacturing or service enterprise with a project cost above Rs. 25 lakh and up to Rs. 1 crore. The applicants will get a loan of Rs. 1 crore at a subsidized interest rate of 6% per annum. The applicants will also get a credit guarantee of 50% of the loan amount from the CGTMSE. The applicants will also get a subsidy of Rs. 2 lakh for the purchase of machinery and equipment. The applicants will also get a training of 45 days from the EDII or any other recognized institution.
The applicants have to submit the online application form along with the following documents:
- Aadhaar card
- Caste certificate
- Residence certificate
- Educational qualification certificate
- Project report
- Bank account details
- Passport size photograph
- Signature
- Any other document as required by the scheme
The applicants can also track the status of their application online through the website. The applicants can also contact the nodal officers of the scheme for any query or grievance. The list of the nodal officers and their contact details are available on the website.
What are the eligibility criteria for the Mukhyamantri Udyami Yojana?
The eligibility criteria for the Mukhyamantri Udyami Yojana are as follows:
- The applicant must be a permanent resident of Bihar.
- The applicant must belong to the Scheduled Caste, Scheduled Tribe, Extremely Backward Class, Women, or Youth category.
- The applicant must be between the age of 18 and 40 years.
- The applicant must have passed at least class 10 or equivalent examination.
- The applicant must not have availed any other loan or subsidy from the state or central government for the same purpose.
- The applicant must have a viable project report for the proposed enterprise.
- The applicant must have a valid Aadhaar card and a bank account.
What are the benefits of the Mukhyamantri Udyami Yojana?
The benefits of the Mukhyamantri Udyami Yojana are as follows:
- The scheme provides financial assistance and training to the beneficiaries to start their own enterprises.
- The scheme provides loans up to Rs. 10 lakh, Rs. 25 lakh, or Rs. 1 crore depending on the category of the applicant at a subsidized interest rate of 1%, 4%, or 6% per annum respectively.
- The scheme provides a credit guarantee of 80%, 75%, or 50% of the loan amount from the CGTMSE depending on the category of the applicant.
- The scheme provides a subsidy of Rs. 50,000, Rs. 1 lakh, or Rs. 2 lakh for the purchase of machinery and equipment depending on the category of the applicant.
- The scheme provides a training of 15, 30, or 45 days from the EDII or any other recognized institution depending on the category of the applicant.
- The scheme creates employment opportunities and boosts industrial development in the state.
What are the other related headings for the Mukhyamantri Udyami Yojana?
Some of the other related headings for the Mukhyamantri Udyami Yojana are:
- Features of the Mukhyamantri Udyami Yojana
- Implementation and Monitoring of the Mukhyamantri Udyami Yojana
- Success Stories of the Mukhyamantri Udyami Yojana
- Challenges and Limitations of the Mukhyamantri Udyami Yojana
- Future Scope and Prospects of the Mukhyamantri Udyami Yojana
Conclusion
The Bihar Mukhyamantri Udyami Yojana is a government scheme aimed at promoting entrepreneurship among the underprivileged sections of society, including scheduled castes and tribes. The scheme provides financial support of up to Rs 10 lakh to eligible applicants, who can use the funds to start their own businesses. The scheme also offers a 50% interest-free loan and a 50% grant to entrepreneurs, which they are required to pay back in 84 installments.
To apply for the scheme, applicants must be permanent residents of Bihar and fulfill the eligibility criteria put forward by the Government of India. The eligibility criteria include passing at least the 12th pass, ITI, Polytechnic Diploma, or any Diploma, and being between 18 and 50 years of age. The industry should also be registered.
The scheme aims to reduce unemployment and improve the standard of living of the people of Bihar. It is a step towards promoting the industry and encouraging micro and small-scale companies in the state.
FAQs on the Mukhyamantri Udyami Yojana
What is the official website of the Mukhyamantri Udyami Yojana?
The official website of the Mukhyamantri Udyami Yojana is https://udyami.bihar.gov.in/.
What is the helpline number of the Mukhyamantri Udyami Yojana?
The helpline number of the Mukhyamantri Udyami Yojana is 0612-2215111.
What is the last date to apply for the Mukhyamantri Udyami Yojana?
The last date to apply for the Mukhyamantri Udyami Yojana is not fixed. The scheme is open throughout the year. However, the applicants are advised to apply as soon as possible to avail the benefits of the scheme.
What are the types of enterprises that can be started under the Mukhyamantri Udyami Yojana?
The types of enterprises that can be started under the Mukhyamantri Udyami Yojana are manufacturing or service enterprises. The enterprises can be related to any sector, such as agriculture, industry, trade, tourism, etc
What are the documents required for the Mukhyamantri Udyami Yojana?
The documents required for the Mukhyamantri Udyami Yojana are:
- Aadhaar card
- Caste certificate
- Residence certificate
- Educational qualification certificate
- Project report
- Bank account details
- Passport size photograph
- Signature
- Any other document as required by the scheme
How to check the status of the application for the Mukhyamantri Udyami Yojana?
The status of the application for the Mukhyamantri Udyami Yojana can be checked online through the official website of the scheme. The applicants have to login to their account and enter their application number and other details to access their status. The applicants can also contact the nodal officers of the scheme for any query or grievance.
How long does it take to get the loan sanctioned under the Mukhyamantri Udyami Yojana?
The loan sanction process under the Mukhyamantri Udyami Yojana depends on the verification and approval of the application and the documents by the concerned authorities. The scheme aims to complete the loan sanction process within 15 days of the submission of the application. However, the actual time may vary depending on the case to case basis.
How to repay the loan under the Mukhyamantri Udyami Yojana?
The repayment of the loan under the Mukhyamantri Udyami Yojana has to be done in monthly installments through the bank account of the beneficiary. The repayment period of the loan is 7 years, including a moratorium period of 6 months. The interest rate of the loan is 1%, 4%, or 6% per annum depending on the category of the applicant. The beneficiary has to repay the principal amount and the interest amount as per the loan agreement.
What are the types of training provided under the Mukhyamantri Udyami Yojana?
The types of training provided under the Mukhyamantri Udyami Yojana are:
- Entrepreneurship Development Training: This training is provided by the Entrepreneurship Development Institute of India (EDII) or any other recognized institution. The training covers the topics such as entrepreneurship, business plan, market research, finance, management, legal aspects, etc. The duration of the training is 15, 30, or 45 days depending on the category of the applicant.
- Skill Development Training: This training is provided by the Industrial Training Institutes (ITIs) or any other recognized institution. The training covers the topics such as technical skills, production techniques, quality standards, etc. The duration of the training is as per the requirement of the enterprise.
- Marketing Support Training: This training is provided by the Bihar Industrial Area Development Authority (BIADA) or any other recognized institution. The training covers the topics such as marketing strategies, branding, promotion, distribution, etc. The duration of the training is as per the requirement of the enterprise.
What are the success stories of the Mukhyamantri Udyami Yojana?
The Mukhyamantri Udyami Yojana has helped many aspiring entrepreneurs to start their own enterprises and achieve their dreams. Some of the success stories of the scheme are:
- Rani Kumari, a 25-year-old woman from Patna, who started her own beauty parlour with the help of the scheme. She got a loan of Rs. 10 lakh under category A and a subsidy of Rs. 50,000 for the purchase of equipment. She also got a training of 15 days from the EDII. She now employs 10 women and earns a monthly income of Rs. 50,000.
- Rajesh Kumar, a 30-year-old man from Gaya, who started his own dairy farm with the help of the scheme. He got a loan of Rs. 25 lakh under category B and a subsidy of Rs. 1 lakh for the purchase of cows. He also got a training of 30 days from the ITI. He now has 20 cows and sells milk and milk products to the local market. He earns a monthly income of Rs. 75,000.
- Pooja Devi, a 35-year-old woman from Muzaffarpur, who started her own garment manufacturing unit with the help of the scheme. She got a loan of Rs. 1 crore under category C and a subsidy of Rs. 2 lakh for the purchase of machines. She also got a training of 45 days from the BIADA. She now produces and supplies garments to various brands and retailers. She employs 50 workers and earns a monthly income of Rs. 2 lakh.
What are the sectors that are covered under the Mukhyamantri Udyami Yojana?
The Mukhyamantri Udyami Yojana covers all the sectors that are related to manufacturing or service enterprises. The sectors include agriculture, industry, trade, tourism, health, education, etc. The scheme does not cover the sectors that are prohibited by the state or central government, such as liquor, tobacco, gambling, etc.
What are the roles and responsibilities of the beneficiaries under the Mukhyamantri Udyami Yojana?
The roles and responsibilities of the beneficiaries under the Mukhyamantri Udyami Yojana are as follows:
- The beneficiaries have to submit the online application form along with the required documents and details.
- The beneficiaries have to attend the training and guidance sessions provided by the scheme authorities.
- The beneficiaries have to repay the loan and the interest amount as per the loan agreement.
- The beneficiaries have to maintain the records and accounts of their enterprise and submit the progress reports to the scheme authorities.
- The beneficiaries have to follow the rules and regulations of the scheme and the government.
What are the roles and responsibilities of the scheme authorities under the Mukhyamantri Udyami Yojana?
The roles and responsibilities of the scheme authorities under the Mukhyamantri Udyami Yojana are as follows:
- The scheme authorities have to verify and approve the applications and the documents of the beneficiaries.
- The scheme authorities have to sanction and disburse the loans and the subsidies to the beneficiaries.
- The scheme authorities have to provide the credit guarantee and the insurance cover to the beneficiaries.
- The scheme authorities have to provide the training and guidance to the beneficiaries.
- The scheme authorities have to monitor and evaluate the performance and the impact of the scheme.
What are the sources of funds for the Mukhyamantri Udyami Yojana?
The sources of funds for the Mukhyamantri Udyami Yojana are as follows:
- The state government provides the funds for the subsidy and the interest subsidy to the beneficiaries.
- The banks and the financial institutions provide the funds for the loans to the beneficiaries.
- The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) provides the funds for the credit guarantee to the beneficiaries.
- The Entrepreneurship Development Institute of India (EDII) and other institutions provide the funds for the training and guidance to the beneficiaries.
What are the expected outcomes of the Mukhyamantri Udyami Yojana?
The expected outcomes of the Mukhyamantri Udyami Yojana are as follows:
- The scheme will create employment opportunities and income generation for the beneficiaries and their families.
- The scheme will boost the industrial development and the economic growth of the state.
- The scheme will reduce the poverty and the inequality in the state.
- The scheme will empower and uplift the marginalized sections of the society.
- The scheme will foster the spirit of entrepreneurship and innovation in the state.
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