The Mukhyamantri Bihar Udyami Yojana was a state government program the Bihar government initiated in 2018. It was a scheme for training and financial support to all the residents of the state who wanted to start an independent business. The main aim of the scheme was to enhance the state’s economic growth and provide jobs for the people. The Bihar government’s Department of Industries oversees this program.
What is the Mukhyamantri Bihar Udyami Yojana
The Mukhyamantri Bihar Udyami Yojana is a scheme that encourages and supports Bihar residents who are Scheduled Caste, Scheduled Tribe, Extremely Backward Class, Women, or Youth group members to become entrepreneurs. The scheme provides credit guarantees and loans up to Rs. 10 lakhs at a reduced rate of interest to enable them to start their own ventures. The program also equips the beneficiaries with the information and guidance they require to effectively run their businesses. The program aims to create an enabling environment for the growth and development of the state’s MSMEs.
How to Apply for Mukhyamantri Bihar Udyami Yojana
Online applications under the Mukhyamantri Bihar Udyami Yojana can be submitted through the official website of the program. The website link is https://udyami.bihar.gov.in/. A candidate is required to submit an online application to the website along with the information and attachments required. The category A, B, or C needs to be selected prior to filling out the form. The details are as follows:
- Category A: These are applicants who want to establish a manufacturing or service venture, with a project cost not exceeding Rs. 10 lakhs. The applicants will be given a loan of Rs. 10 lakhs, repayable with an annual interest of 1%. Credit guarantee of an amount equal to 80% of the loan amount will be offered to the applicant by the CGTMSE. In addition, a subsidy of Rs. 50,000 will be given to the applicants for purchasing machinery and equipment. Moreover, the Entrepreneurship Development Institute of India (EDII) or any other certified organization would offer the applicants a 15-day course.
- Category B: Applicable for undertaking a manufacturing or service business wherein the project cost is between Rs. 10 lakh and Rs. 25 lakhs. The borrowers will be extended a loan amount of Rs. 25 lakhs at 4% subvention per year. In addition, the credit guarantee from CGTMSE equivalent to 75% of the loan advanced to the borrower will be issued to the borrower. In addition, there will be a subsidy of Rs. 1 lakh for equipment and machinery to be purchased by the candidates. The candidates will also be given 30 days of training from EDII or any other organization that is accredited.
- Category C: Eligible applicants for a manufacturing or service venture costing at least Rs. 25 lakh but not exceeding Rs. 1 crore. The borrower from the list will get a loan of Rs. 1 crore with an annual interest rate of 6% discounted. In addition, CGTMSE will offer credit guarantee to the applicant equal to the extent of 50% of the loan amount. The candidates will also get a subsidy of Rs. 2 lakh for the purchase of equipment and machinery. Furthermore, 45 days’ training by EDII or any other accredited organization for the candidates.
Registration Process for Bihar Udyami Yojana
If you wish to register for Bihar Udyami Yojana, you need to follow the steps below:
Step 1 : Click on “Registration/Log in” from the official website. “Mukhyamantri Bihar Udyami Yojana” should be chosen as “MMUY”.
Step 2: You have to provide your Aadhaar number and enter a password on the new page.
Step 3: After filling up the details, click on the “Login” button.
Step 4: A registration form will appear. Fill in the details carefully in that form.
Step 5: Now complete your registration by clicking the “Submit” button.
Bihar Udyami Yojana Application Process
Step-by-step application process for Bihar Udyami Yojana is mentioned below:
Step 1: Use your Aadhaar number and password to access the portal after successfully registering.
Step 2: Your dashboard will display the application form. Complete the form completely, including all required information.
Step 3: As directed by the instructions, upload any necessary papers.
Step 4: Check the application to make sure all the data is accurate.
Step 5: To finish the application process, click the “Submit” button.
Step 6: Download and print the acknowledgement receipt for your records. Keep it safe for future correspondence.
Documents Required for Mukhyamantri Udyami Yojana
The following documents should be submitted with the online application form by the applicants:
- Aadhaar card
- Certificate of residence
- Certificate of educational qualification
- Report on the project
- Details of a bank account
- Photo size for a passport and signature
- Any other documents that the scheme specifies
Applicants can also monitor the status of their applications through the website. The applicants can get in touch with the nodal officers in case of any question or complaint. The contact details and the list of the nodal officers are given in the website.
Eligibility Criteria for the Mukhyamantri Bihar Udyami Yojana
Following is the eligibility criterion to get enrolled under the Mukhyamantri Bihar Udyami Yojana.
- The applicant should be a Bihar permanent resident.
- He must fall under the category of the following groups of people. Such people are either females, youths, extremely backward castes, Scheduled castes or Scheduled tribes
- The applicant age has to range between 18 years and 40 years.
- At least class 10 or equivalent examination passed by the applicant
- For the above purpose, he/she should not have availed of any other loan or subsidy from the federal or state government.
- The applicant must submit a project report for the proposed business.
- The candidate needs to have a bank account and latest Aadhaar card.
Benefits of the Mukhyamantri Udyami Yojana
Benefits of the Mukhyamantri Bihar Udyami Yojana are:
- Mukhyamantri Udyami Yojana provides benefits with training as well as fund provision to launch businesses.
- On the basis of a category selected, the initiative has provided loan provisions up to Rs. 10 lakh, Rs. 25 lakh or even Rs. 1 crore that are allowed by the subsidized rates of 1%, 4% and 6% yearly respectively.
- Depending upon the category of applicant, the credit guarantee of the scheme is 80%, 75%, or 50% of the loan amount from the CGTMSE.
- Depending upon the category of applicant, the subsidy of the scheme is Rs. 50,000, Rs. 1 lakh, or Rs. 2 lakh to buy machinery and equipment.
The Mukhyamantri Udyami Yojana offers the following training programs
The various types of training provided under the Mukhyamantri Bihar Udyami Yojana are:
- Entrepreneurship Development course: This course is offered by either the Entrepreneurship Development Institute of India (EDII) or any other accredited organization. All subjects like entrepreneurship, business planning, market research, finance, management, legal consideration, and others are taught in the program. According to the category of the applicant, the duration of the training can be 15, 30, or 45 days.
- Training in Skill Development: This kind of training is provided by the Industrial Training Institutes (ITIs) or any other recognized institution. The course includes topics such as technical skills, production methods, quality standards, etc. The duration of the training is as per the business requirements.
- Training: The Bihar Industrial Area Development Authority (BIADA) or any other recognized institution provides marketing support training. Marketing strategy, branding, promotion, distribution, and other topics are included in the course. The duration of the training is at the discretion of the business.
Roles and Responsibilities of Mukhyamantri Udyami Yojana Beneficiaries and Authorities
1. Beneficiaries
Beneficiaries under the Mukhyamantri Bihar Udyami Yojana have the following duties and responsibilities:
- Online application form along with necessary details and documents, the recipient is required to submit
- Beneficiaries have to attend the training and orientation sessions that are provided by the scheme authorities
- According to the terms of the loan agreement, the beneficiaries have to pay back the amount with interest.
- Apart from presenting progress reports to the plan administration, the recipients are expected to maintain records and accounts of their business.
- The recipients are obliged to comply with the laws and regulations set by the government and the scheme.
2. Authorities
Under the Mukhyamantri Bihar Udyami Yojana, the scheme authorities have the following duties and responsibilities:.
- The applications and other supporting documents of the recipients must be scrutinized and approved by the scheme authorities.
- The loans and subsidies must be approved by the program authorities before they can be provided to the recipients.
- The recipients must get insurance coverage and a credit guarantee from the plan administration.
- The recipients must get training and direction from the scheme administration.
- Scheme authorities are required to monitor and evaluate the performance and effects of the scheme.
Sources of funding for the Mukhyamantri Udyami Yojana
The funding sources for the Mukhyamantri Udyami Yojana are as follows:
- Subsidy and interest subsidy funds are allocated to the recipients by the state government.
- Loans money to the beneficiaries is issued by banks and other financial institutions.
- The recipients obtain the cash for the credit guarantee from the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
- Funds for the recipients’ training and direction are provided by the Entrepreneurship Development Institute of India (EDII) and other organizations.
Outcomes of Mukhyamantri Udyami Yojana
The following are the expected outcomes of the Mukhyamantri Udyami Yojana:
- The program will create cash and employment opportunities for the beneficiaries and their families.
- The plan will aid in the state’s economic growth and industrialization.
- The plan will reduce inequality and poverty in the state.
- The plan will empower and enhance the lives of the poor.
- The plan will boost the innovative and entrepreneurial spirit of the state.
Mukhyamantri Udyami Yojana Loan Repayment Process?
Under the Mukhyamantri Bihar Udyami Yojana, it is paid back in monthly installments from the beneficiary’s bank account. The repayment period for the loan is seven years, which includes a six-month moratorium. The annual interest rate of the loan varies between 1%, 4%, and 6%, depending on the category of the applicant. Under the terms of the loan, the beneficiary has to return the principal and interest too.
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FAQs
Q1. How do I get the status of my Mukhyamantri Udyami Yojana application?
The official website of the Mukhyamantri Udyami Yojana will enable users to check the status of their application. Applicants would need to login to their account and enter details such as application number for status checking. Further, applicants could also contact nodal officers appointed by the scheme in case they have any grievances or complaints.
Q2. Which industries are included in the Mukhyamantri Udyami Yojana?
Mukhyamantri Udyami Yojana Schemes All industries related to manufacturing or service-oriented businesses fall under the Mukhyamantri Udyami Yojana. The sectors range from agriculture, industry, trade, tourism, health, education, and so on. Those sectors which are forbidden by the state or federal government fall beyond the scope of the plan.
Q3. On which website can I apply for Mukhyamantri Udyami Yojana?
Official website of Mukhyamantri Udyami Yojana is https://udyami.bihar.gov.in/ .
Q4. What is the helpline number of the Mukhyamantri Udyami Yojana?
The Mukhyamantri Udyami Yojana helpline number is 0612-2215111.
Q5. What is the Mukhyamantri Udyami Yojana application deadline?
There is no fixed date for the application process under the Mukhyamantri Udyami Yojana. The scheme is available throughout the year. In order to avail of the scheme’s benefits, applicants are advised to apply as soon as possible.
