What are the Benefits?
- Substantial Financial Support: Receive up to ₹10,00,000/- for setting up a business (50% of the total financial assistance (up to ₹5,00,000/-) is provided as a non-repayable grant. The remaining 50% (up to ₹5,00,000/-) is offered as an interest-free loan, with a nominal 1% interest under specific sub-schemes.) - Skill Development: Mandatory training sessions are provided to enhance entrepreneurial skills.
Who is Eligible?
Required Documents
Common Questions
What is the “Mukhyamantri Alpasankhyak Udyami Yojana”?
The "Mukhyamantri Alpasankhyak Udyami Yojana" is a component of the "Mukhyamantri Udyami Yojana" aimed at promoting entrepreneurship and self-employment among individuals from Minority communities in Bihar.
Who can apply for the scheme?
Applicants must be permanent residents of Bihar, belong to Minority communities, be aged between 18 and 50 years, and meet the educational qualifications.
What financial assistance is provided under the scheme?
Financial assistance of up to [?]10,00,000/- is provided, with 50% as a non-repayable grant and the remaining 50% as an interest-free loan (1% interest under certain sub-schemes).
What is the grant component of the financial assistance?
50% of the total financial assistance, up to [?]5,00,000/-, is provided as a non-repayable grant.
What is the loan component of the financial assistance?
50% of the total financial assistance, up to [?]5,00,000/-, is provided as an interest-free loan with a nominal 1% interest in specific cases.
Is training mandatory under the scheme?
Yes, training is mandatory to enhance entrepreneurial skills and prepare applicants for successful business operations.
What types of businesses are eligible under the scheme?
The scheme supports proprietorship or partnership firms.
What are the educational qualifications required to apply?
Applicants must have passed at least 10+2, Intermediate, ITI, Polytechnic Diploma, or an equivalent qualification.
Is there an age limit for applicants?
Yes, applicants must be between 18 and 50 years old to qualify for the scheme.
How does the scheme promote entrepreneurship?
The scheme provides financial support, training, and resources to help individuals from Minority communities start and run successful businesses, contributing to self-employment and economic growth.
How can applicants use the financial assistance?
The funds can be used for establishing and operating a business, including site preparation, purchasing equipment, and other approved expenses.
Can individuals from other states apply for this scheme?
No, only permanent residents of Bihar are eligible to apply.