BPSC Exam Prep

■ Mukhyamantri Mahila Udyami Yojana / (Chief Minister Women Entrepreneur scheme):

 

Objective:

To promote entrepreneurship/self-employment among women of the state.

 

Launched:

CM Nitish Kumar launched the scheme on 18^th June 2021.   Implementing authority:

The Department of Industries, Bihar, is implementing a special incentive scheme for the establishment of industries by women in the state. The implementation of this scheme will be carried out by the Bihar Startup Fund Trust.

  Eligibility:

• Resident of Bihar

• Having at least passed 10+2 or intermediate, ITI, Polytechnic Diploma or equivalent

•  Aged between 18 to 50 years

• Having a unit of Proprietorship firm, Partnership firm, LLP, or Pvt. Ltd. Company

• For proprietorship, a personal current account or a current account in the name of the firm will be accepted. However, after approval of the loan or grant, the transfer of the approved amount will be done through RTGS to the current account in the name of the firm after the applicant changes their personal current account to the name of the firm and uploads it on the portal.

• A proprietorship firm can be registered under the entrepreneur’s private PAN

• The current account must be in the name of the proposed firm.

(Note: The eligibility of unemployed women has been removed)   Beneficiaries: Women and equal benefits will also be provided to transgender individuals.   Selection process:

Under this scheme, online applications will be received from beneficiaries. The selection of beneficiaries is done by a committee. The selection committee will evaluate the project cost based on the requirements of the entrepreneur, and the necessary amount will be approved.

  Salient Features:

• Beneficiaries will be provided a sum of ₹10 lakh to start a new business or small industry.

• The total project cost (per unit) of maximum up to ₹10 lakh will be divided equally between the grant and the loan.

• The 50% of the total project cost (per unit), up to a maximum of ₹5 lakh, will be approved as a special incentive scheme under the grant/subsidy scheme.

• The rest 50% of the total project cost (per unit), up to a maximum of ₹5 lakh, will be sanctioned as an interest-free loan, to be repaid in 7 years. This will be collected in 84 equal instalments by the Bihar Start-up Fund Trust, one year after the final instalment payment under the plan. If the borrower fails to repay the loan on time or engages in any other financial irregularity, the amount will be recovered as government land revenue.

• All beneficiaries will be assisted by the Project Monitoring and Approval committee (PMA) for training and project supervision at a rate of ₹25,000 per unit.

• This scheme is only available for the establishment of new industries. These units will also be eligible for the Bihar Industrial Investment Promotion Policy 2016.

• Under the Budget (2023-24) an allocation of ₹250 crores has been made for this scheme in the year 2023-24.

 

***