Bihar Udyami Yojana 2024: Eligibility, Benefits, Documents, and How to Apply

The Bihar Udyami Yojana is a significant initiative by the Bihar government designed to support aspiring entrepreneurs and unemployed youth in the state. This scheme provides financial assistance to eligible individuals to start their businesses, promoting economic growth and self-reliance.

Also Read: Himachal Pradesh Gobar Kharid Yojana: Benefits, Eligibility, Documents & How to Apply Online

What is Bihar Udyami Yojana 2024?

Bihar Udyami Yojana 2024 is a government scheme launched by the Bihar Department of Industries. The primary objective of this scheme is to foster entrepreneurship by providing financial aid to start new enterprises. The scheme offers up to ₹10 lakh in financial assistance, including a substantial subsidy and an interest-free loan. It targets economically weaker sections and aims to boost the state’s economic development by encouraging new business ventures.

Key Features:

• Financial Assistance: Up to ₹10 lakh, comprising a ₹5 lakh subsidy and a ₹5 lakh interest-free loan.
• Target Beneficiaries: SC/ST/OBC, women, and unemployed youth.
• Disbursement: The financial aid is disbursed in three instalments, ensuring proper utilization and management.
• Training and Monitoring: Beneficiaries receive support through training and project monitoring.

Also Read: Maharashtra Mukhyamantri Annapurna Yojana: Features, Benefits & Eligibility Criteria

Who is Eligible for Bihar Udyami Yojana 2024?

Eligibility criteria for Bihar Udyami Yojana 2024 are designed to ensure that the benefits reach those who need them the most. The following criteria must be met by applicants:

1. Permanent Residency: The applicant must be a permanent resident of Bihar.
2. Priority Groups: The scheme gives preference to individuals from Scheduled Castes (SC), Scheduled Tribes (ST), Extremely Backward Classes (EBC), women, and unemployed youth.
3. Age Limit: Applicants must be between 18 to 50 years of age.
4. Educational Qualification: The minimum required qualification is 12th grade (Intermediate) or equivalent (Polytechnic, ITI, Diploma).
5. Bank Account: The applicant must have a current account in their name or the firm’s name.
6. Business Structure: Eligible business structures include proprietorship, partnership firms, LLP, or private limited companies.

Documents Required for Bihar Udyami Yojana 2024

Applicants need to submit several documents to prove their eligibility and facilitate the processing of their application. The required documents include:

1. Residential Certificate: Proof of permanent residence in Bihar.
2. Age Proof: Matriculation certificate, birth certificate, or Aadhaar card.
3. Educational Certificates: Intermediate (12th grade) certificate or equivalent.
4. PAN Card: For identification and financial records.
5. Aadhaar Card: For identity verification.
6. Passport Size Photograph: Recent photograph of the applicant.
7. Caste Certificate: For SC/ST/OBC applicants.
8. Bank Passbook or Cancelled Cheque: To provide bank account details.
9. Signature Sample: For verification purposes.

What are the Benefits of Bihar Udyami Yojana 2024?

The Bihar Udyami Yojana 2024 offers several benefits aimed at supporting new entrepreneurs and fostering economic growth:

1. Substantial Financial Assistance: The scheme provides up to ₹10 lakh in financial aid, which includes a ₹5 lakh subsidy and a ₹5 lakh interest-free loan.
2. Interest-Free Loan: The interest-free component ensures that beneficiaries do not face the burden of high interest rates.
3. Incremental Disbursement: Funds are disbursed in three instalments to ensure proper utilization:
   • First Installment: 25% of the total amount.
   • Second Installment: 50% of the total amount.
   • Third Installment: 25% of the total amount.
4. Training and Monitoring: Beneficiaries receive ₹25,000 for training and project monitoring, ensuring they are well-prepared to manage their businesses.
5. Support for Priority Groups: The scheme specifically targets and benefits individuals from SC/ST/OBC communities, women, and unemployed youth, promoting inclusive growth.
6. Boost to Local Economy: By encouraging new businesses, the scheme helps generate employment and boost the local economy.

List of Projects Included in Bihar Udyami Yojana 2024

The Bihar Udyami Yojana 2024 supports a wide range of projects across various industries. Here is a detailed list of projects eligible for support under this scheme:

• IT Business Centers (web software development, web designing)
• Steel furniture manufacturing
• Ice cream manufacturing
• Flour, sattu, and besan production
• Electric vehicle assembly
• Auto garages
• Concrete hum pipes (RCC spun hum pipes)
• Computer hardware assembly and maintenance
• Textile weaving machines
• Corn flakes manufacturing
• Cooler manufacturing
• Agricultural equipment manufacturing
• Banana fiber production units
• Leather goods manufacturing (bags, belts, wallets, gloves)
• Jam, jelly, and sauce production
• Detergent powder, soap, and shampoo production
• Disposable diapers and sanitary napkins production
• Dry cleaning services
• Oil mills
• Dal mills
• Notebook, copy, file, and folder manufacturing
• Animal feed production
• Powerloom units
• PVC shoe manufacturing
• Pathological testing centers
• Poha/chura production units
• Plastic item manufacturing (boxes, bottles)
• Fruit juice units
• Flex printing
• Carpentry and wood furniture workshops
• Bamboo item and furniture production units
• Seed processing and packaging
• Cane furniture manufacturing
• Bakery products (bread, biscuits, rusk)
• Pillow cover sets with bed sheets
• Carpentry
• Makhana processing
• Honey processing
• Spice production
• Poultry feed manufacturing
• Readymade garments manufacturing
• Rolling shutters
• Cement mesh, doors, windows
• Stabilizer, inverter, UPS, CVT assembly
• Sports shoe manufacturing
• Light commercial vehicle body building
• Hospital bed and trolley manufacturing
• Establishment of dhabas, hotels, restaurants, and food on wheels

How to Apply for Bihar Udyami Yojana 2024?

Applying for the Bihar Udyami Yojana 2024 involves several steps to ensure a smooth and efficient process. Here’s a step-by-step guide:

Step 1: Registration

1. Visit the Official Website: Go to the official Bihar Mukhyamantri Udyami Yojana website.
2. Click on Registration: Find and click on the registration option on the homepage.
3. Enter Aadhaar and Password: Input your Aadhaar card number and desired password to log in.
4. Fill Registration Form: Carefully fill out the registration form with accurate details.
5. Submit the Form: Submit the form to receive a receipt of registration.

Step 2: Application Submission

1. Log in to the Portal: Use the credentials received during registration to log in.
2. Complete the Application Form: Fill out the application form accurately with all required details.
3. Upload Required Documents: Scan and upload all necessary documents as listed in the requirements.
4. Submit the Application: Submit the completed application form and keep a printed copy of the receipt for records.

Bihar Udyami Yojana 2024 Selection Process

The selection process for Bihar Udyami Yojana 2024 is designed to ensure transparency and fairness. Here’s how it works:

• Application Review: All applications are reviewed by the concerned authorities to ensure they meet the eligibility criteria.
• Random Lottery System: Beneficiaries are selected through a random lottery system to maintain fairness.
• Physical Verification: Applications are forwarded for physical verification by the district industry centre manager.
• Training Program: Selected candidates undergo a two-week training program to equip them with the necessary skills to manage their businesses.
• Disbursement of Funds: Funds are disbursed in three instalments based on the detailed project report (DPR):

1. First Installment: 25% of the total amount.
2. Second Installment: 50% of the total amount.
3. Third Installment: 25% of the total amount.

• Monitoring and Support: Continuous monitoring and support are provided to ensure the success of the businesses.
• Final Selection: Final selection is made after the completion of the training program, and funds are disbursed accordingly.

By following these steps and meeting the eligibility criteria, aspiring entrepreneurs in Bihar can take advantage of the Bihar Udyami Yojana 2024 to start their own businesses and contribute to the state’s economic growth. This scheme not only provides financial support but also ensures that beneficiaries receive the necessary training and monitoring to succeed in their entrepreneurial ventures.