The Bihar Udyami Yojana 2024-25 registration deadline is approaching fast, 31 July 2024. Entrepreneurs or young professionals of Bihar who want to start their businesses can get government assistance through this scheme, interested candidates can read the article to learn everything about the Bihar Udyami Yojana Registration.
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Bihar Udyami Yojana 2024
The Bihar government has started the Bihar Udyami Yojana for unemployed youth who wish to start their own business. The government aims to provide self-employment, promote entrepreneurship, and reduce unemployment in the state through the scheme.
Under the Bihar Udyami Yojana, the government offers financial assistance of up to ₹10 lakh to the selected applicants for the implementation and establishment of the project, where the government will provide a maximum of 50% of the loan and the remaining 50% of the amount is waived off as an interest-free loan.
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Recently, the government started the Bihar Udyami Yojana online registration for the Financial year 2024-25 from 1 July 2024. The Bihar citizens who meet the eligibility requirement can apply for the scheme before the last date, 31 July 2024.
Scheme | Mukhya Mantri Udyami Yojana |
State | Bihar |
Department | Bihar Industrial Department |
Target beneficiaries | Entrepreneur and unemployed Youth |
FY | 2024-25 |
Application Mode | Online |
Application Dates | 1 July 2024 to 31 July 2024 (5:00 PM) |
Official Website | https://udyami.bihar.gov.in/ |
Bihar Udyami Yojana 2024 Eligibility Criteria
The candidates who meet the following eligibility requirements can apply for the Bihar Udyami Yojana 2024-25:
- The applicants should be a permanent citizen of Bihar state.
- The age limit of the applicants should be between 18 and 50 years.
- The applicants must have completed the intermediate/ITI/Diploma Polytechnic, or equivalent.
- The applicant’s company should be a proprietorship firm, LLP, partnership firm, or private limited entity to apply for the scheme.
- The proprietorship business should be done by the entrepreneur on his personal PAN.
- The scheme is applicable for various quotas such as male applicants of the BC-02 category, women applicants of all categories, SC/ST male applicants, and many more.
Documents Required for Bihar Udyami Yojana 2024 Registration
If you are interested in the Bihar Udyami Yojana, you must prepare the following documents beforehand to complete your application:
- Live photographs
- Signature
- Matriculation passing certificate
- Intermediate or equivalent passing certificate
- Domicile Certificate
- Caste Certificate (if applicable)
- Disability certificate (if applicable)
- Identity proof (Aadhar card)
- PAN Card
How to apply for the Bihar Udyami Yojana 2024?
The Bihar citizens who fulfill the eligibility standard for the Bihar Udyami Yojana and wish to apply for the scheme can follow the below simple steps:
- Visit the Bihar Udyami Yojana official portal at https://udyami.bihar.gov.in/
- Next, look for the 2024-25 Bihar Udyami Yojana in the new updates and click the apply link.
- On the next page, enter your name, email, gender, business, Aadhar number, mobile number, and application type to receive the OTP.
- Next, complete the OTP verification to get the login credentials and complete your registration.
- Next, log in to the portal with credentials and access the application form of the Yojana.
- Next, complete the application form with the required details asked about your business and project.
- Next, upload the scanned copies of the necessary documents applicable to the application in the prescribed format.
- Next, review the entries before submitting the application form on the Bihar Udyami Yojana portal.
- Remember, to save or print a hard copy of the submitted application form for the future proceedings of the Bihar Udyami Yojana benefits.
How does the Bihar Udyami Yojana process?
After the Bihar Udyami Yojana application, the authority will review your application and after the approval, the Yojana follows the below process:
- In the first phase of the yojana, the selected applicants will get 6 days of training at the designated training institute. The selected applicants will get two chances to join the training institute, if they fail to join, their selection will be canceled.
- After the first phase of training, the authority will pay a minimum ₹1.5 lakh as the first installment of the assistance to the applicant’s account. The first installment will be made for the preparation of the project site and ₹25, 000 for other stuff, like electricity, safety kit, etc.
- If the selected applicants have taken the project site on rent, they can receive the advance payment up to ₹50,000 if the 6-month rent is more than ₹50,000.
- The beneficiaries are required to upload the utilization certificate of the first installment of funds onto the portal within 90 days. The utilization certificate will be verified by the regional officer and approved by the level general manager, and the second phase 6-day training will begin.
- After the second phase of training, the authority will disburse the second installment of the loan to the beneficiary account, the beneficiaries will follow the same process to receive the further installment after they spend 90% of their first/second installment.
After the second and third installments, the beneficiaries would need to pay back 50% of the loan amount installment-wise to the government.
The Bihar Udyami Yojana has opened doors for Bihar citizens who wish to start their businesses and be self-independent. Bihar citizens who have brilliant business ideas can apply for this scheme before 31 July 2024 and get the needed assistance from the Bihar Government.
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