The Bihar Government has launched a new scheme for the people of minority communities to set up small industries or start businesses. Under the Chief Minister Minority Entrepreneur Scheme, the government is giving interest-free loans up to Rs 10 lakh with a 50 per cent subsidy. The beneficiaries have to repay only half of the loan amount in seven years.
The scheme is aimed at providing employment opportunities to the unemployed youth and women of minority communities in the state. The online application process is open till October 20. The applicants have to submit their Aadhaar card, PAN card, bank details, residence certificate and educational certificate to apply for the scheme.
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The selection of the beneficiaries will be done through a randomization process (lottery system) after the scrutiny of the applications. The loan amount will be disbursed after the completion of all the processes. The business has to be started with the loan amount and half of it will be waived off as a grant by the government.
The scheme is similar to the Chief Minister Udyami Yojana in Bihar, where interest-free loans are given to all communities except male applicants from the unreserved category who have to pay one per cent interest.
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The District Minority Welfare Officer Sunita Sonu said that the scheme is a separate initiative for the minority community by the state government for their socio-economic development and to enhance their capabilities for the contribution to the development of the state.
