Patna: The Nitish government in Bihar is taking significant steps to boost industrial development in the state by implementing attractive schemes to draw external investments. While some large industries have already been established, the government is also focusing on promoting small-scale industries to generate employment opportunities. In line with this objective, several initiatives have been launched to improve the lives of minorities, one of which is the ‘Chief Minister’s Minority Entrepreneur Scheme.’
The primary aim of this scheme is to connect unemployed minorities with job opportunities. Beneficiaries of this scheme are expected to establish industries using government-provided financial assistance, thereby creating employment for others as well. Initially, this scheme was available only to Scheduled Castes, Scheduled Tribes, Extremely Backward Classes, and women. However, Chief Minister Nitish Kumar has now expanded the program to include minorities, allocating specific financial resources to help them set up industries and combat unemployment.
Chief Minister Nitish Kumar has consistently emphasized inclusive development, ensuring that backward and minority communities progress in every sector. Recognizing the educational and economic backwardness of the minority communities, the Bihar cabinet approved the ‘Chief Minister’s Minority Entrepreneur Scheme’ on September 25, 2023. Previously, benefits under the entrepreneur scheme were extended to Scheduled Castes, Scheduled Tribes, Extremely Backward Classes, and women. Now, under the Minority Entrepreneur Scheme (MAUY), the government will provide financial assistance of up to INR 10 lakh to minority entrepreneurs, with half as a grant and the remaining amount as an interest-free loan, repayable in installments.
The scheme is expected to empower unemployed youth from minority communities by providing them with opportunities to establish their businesses. Previously, under the ‘Minority Employment Loan Scheme,’ minority youths were eligible for a maximum loan of INR 5 lakh to start small businesses such as shops. The government provided these loans at a nominal interest rate, with repayments made in installments. However, under the new scheme, eligible individuals can access financial support more effectively, ensuring that they can establish sustainable businesses.
A key benefit of this scheme is that it allows minority individuals to tackle unemployment independently while also generating employment opportunities for others. The scheme ensures that every year, new industries are established, reducing the unemployment rate and fulfilling the government’s objective of providing maximum employment opportunities.
Another crucial aspect of the Chief Minister’s Minority Entrepreneur Scheme is that beneficiaries are not required to pay interest on their loans. Interested minority youth who wish to start their businesses must apply online through the government-provided portal. Upon meeting the eligibility criteria, they will receive financial assistance of INR 10 lakh, comprising INR 5 lakh as a subsidy and INR 5 lakh as a repayable loan in installments. However, applicants must be permanent residents of Bihar to avail of this scheme.
The implementation of this initiative highlights the Bihar government’s commitment to the development of minorities, not only in education but also in industrial and other sectors. By supporting minority entrepreneurs, the government aims to foster economic growth and inclusivity within the state.
