Mukhyamantri Alpsankhyak Udyami Yojana 2023 | Rs 10 Lakh Grant to Unemployed Minority Youth of Bihar

Unemployment among minority youth in India remains a critical issue, marked by structural barriers, unequal opportunities, and discrimination. Addressing this problem necessitates targeted policies to provide skill training and promote inclusive economic growth, unlocking the potential of a diverse population for sustainable development. Acknowledging this, the Bihar Government launched the “Mukhyamantri Alpsankhyak Udyami Yojana” in order to provide financial assistance to unemployed youth so that they can start a work of their own. This in turn will provide employment opportunities to others. In this article, we will learn in detail about the scheme, I am certain that you will not have any doubts left regarding the scheme by the end of the article. 

What is Mukhyamantri Alpsankhyak Udyami Yojana?

‘Mukhyamantri Alpsankhyak Udyami Yojana’ is a welfare scheme announced by the CM of Bihar Shri Nitesh Kumar to foster entrepreneurship within minority youth and enhance their self-employment opportunities. On September 25, 2023, the Nitish government made a significant decision to boost entrepreneurship among minority youth and bolster self-employment opportunities. The state cabinet greenlit the Chief Minister Minority Entrepreneur Scheme, with a dedicated fund of Rs 100 crore. 

This scheme is open to individuals belonging to the minority category, and women from minority communities can choose between the Mukhyamantri Alpsankhyak Udyami Yojana and the Mukhyamantri Mahila Udyami Yojana. 

The beneficiaries setting up industries can receive maximum assistance of Rs. 10 lahks per unit, consisting of a grant covering 50 percent of the project cost, up to a maximum of five lakhs, and a loan of 50 percent of the cost, capped at Rs 5 lakh. 

The Minority Welfare Department will annually determine the target beneficiaries from the minority category, and the department will administer the scheme’s consolidated funds. It’s worth noting that similar schemes have been previously implemented for Scheduled Castes, Scheduled Tribes, Extremely Backward Classes, young entrepreneurs, and women entrepreneurs under the Chief Minister’s initiatives.

Mukhyamantri Alpsankhyak Udyami Yojana 2023 Key Highlights
Mukhyamantri Alpsankhyak Udyami Yojana Launch Date	September 25, 2023
Mukhyamantri Alpsankhyak Udyami Yojana Ofifcial Website	Click Here
Mukhyamantri Alpsankhyak Udyami Yojana Objective	To boost entrepreneurship among minority youth and bolster self-employment opportunities
Mukhyamantri Alpsankhyak Udyami Yojana Beneficiaries	Minority Youth of Bihar
Mukhyamantri Alpsankhyak Udyami Yojana Grant Amount	Rs 10 Lakh Per Unit ( Rs 5 Lakh Subsidy, Rs 5 Lakh Loan)
Mukhyamantri Alpsankhyak Udyami Yojana Interest Rate	0%
Mukhyamantri Alpsankhyak Udyami Yojana Budeget	Rs 100 Crore
Mukhyamantri Alpsankhyak Udyami Yojana Nodal Agency	Minority Welfare Department, Bihar
Mukhyamantri Alpsankhyak Udyami Yojana Age Limit	1850 Years
Mukhyamantri Alpsankhyak Udyami Yojana Contact Number	1800 345 6214

Mukhyamantri Alpsankhyak Udyami Yojana Objective

The primary objective of the Mukhyamantri Alpsankhyak Udyami Yojana is to provide financial assistance to the unemployed minority youth of Bihar. Under this scheme, the Bihar government will extend financial support of Rs 10 lakh to unemployed individuals from minority communities, whether women or men, enabling them to initiate new industrial ventures. Out of this sum, Rs 5 lakh constitutes a subsidy, with the remaining portion structured as a loan, repayable in installments.

Please Note:

1. The approved sum will be disbursed in a maximum of three installments.

2. Only one family member will be eligible for the scheme’s benefits.

Mukhyamantri Alpsankhyak Udyami Yojana Benefits and Features

•  Under the Bihar Mukhyamantri Alpsankhyak Udyami Yojana, the government offers an incentive of Rs 10 lakh to support the establishment of industries.
•  This scheme is exclusively available to citizens belonging to the Minority categories.
•  The Bihar government aims to stimulate industrial growth through the Bihar Mukhyamantri Alpsankhyak Udyami Yojana 2023.
•  The implementation of this scheme is expected to lead to a reduction in unemployment rates.
•  It also seeks to enhance the economic well-being of Minority Youths of Bihar.
•  The Bihar government has allocated a budget of Rs 100 crore for the scheme’s implementation.
•  The incentive amount of Rs 10 lakh is divided into a grant of Rs 5 lakh and an interest-free loan of Rs 5 lakh.
•  The scheme is designed to promote the growth of industries.
•  Its implementation is anticipated to lower the unemployment rate.
•  It aims to provide improved livelihood opportunities for Minority Youths of Bihar citizens.
•  The repayment of the loan will occur through 84 installments, and the loan itself carries no interest.
•  Additionally, the government will provide Rs 25,000 for training and project monitoring.
•  Beneficiaries seeking a loan from a nationalized bank must complete a mandatory self-declaration.

Mukhyamantri Alpsankhyak Udyami Yojana Subsidy Amount Details

• Young Minority Youth from the designated area will receive an interest-free loan equivalent to 50% of the total project cost per unit, capped at Rs 5,00,000 (five lakhs), repayable over 7 years in 84 equal installments.
• The special incentive scheme will provide a grant or subsidy of up to 50% of the sanctioned amount, with a maximum limit of Rs 5,00,000 (five lakhs).
•  Upon selection, beneficiaries will receive Rs 25,000 per unit for training.
•  The scheme exclusively supports the establishment of new industries, with the added advantage of availing benefits from the Bihar Industrial Investment Promotion Policy 2016.

Click here to get information related to the project of Mukhyamantri Alpsankhyak Udyami Yojana under the financial year 2023-24.

Mukhyamantri Alpsankhyak Udyami Yojana Eligibility Criteria 

To ensure a successful Mukhyamantri Alpsankhyak Udyami Yojana application, it’s crucial to understand the eligibility criteria for Mukhyamantri Alpsankhyak Udyami Yojana 2023 thoroughly. This scheme has specific requirements that applicants must meet, including education and age limits. Not meeting these criteria will lead to disqualification. 

•  Eligible beneficiaries must be permanent residents of Bihar.
•  They should belong to Minority categories.
•  Educational qualifications should include at least 10th grade, 2nd grade, Intermediate, ITI, Polytechnic, Diploma, or equivalent.
• The age range for eligibility is between 18 years and 50 years.
•  In the case of proprietorship, either an individual current account in the applicant’s name or a current account in the firm’s name is acceptable. However, the sanctioned amount will only be transferred to the firm’s current account after the applicant converts their personal account into the firm’s name and uploads this information on the portal.
•  Proprietorship can be established using the entrepreneur’s personal PAN.
•  A current account in the proposed firm’s name is required.

Mukhyamantri Alpsankhyak Udyami Yojana Documents Required

The documentation required for Mukhyamantri Alpsankhyak Udyami Yojana includes:

1. Proof of permanent residence.

2. Matriculation certificate for verifying the date of birth.

3. Certificate of Intermediate or equivalent qualification.

4. Caste certificate (in the father’s name for female applicants).

5. Certificate of organization affiliation.

6. Aadhar card.

7. PAN card.

8. Recent passport-size photograph (maximum size of 120 KB).

9. Sample signature (maximum size of 120 KB).

10. Bank statement as evidence of the account opening date.

11. A canceled check as part of the documentation.

Mukhyamantri Alpsankhyak Udyami Yojana Apply Online

To apply for the Bihar Mukhyamantri Alpsankhyak Udyami Yojana, applicants can utilize the Bihar Industries Department portal. Here’s a step-by-step guide:

1. Begin by registering on the Bihar Industries Department portal.

2. Following registration, verify your identity by confirming the OTP (OneTime Password).

3. Login using your Aadhar number and the password sent to your registered email address.

4. Proceed to fill in the application form in the following sections:

• Personal information
• Educational details
• Family particulars
• Organization information
• Project description.
• Financial statements and bank records

5. Ensure you attach all necessary documents as required.

6. Once you’ve completed all sections and attached the documents, submit the application form.

7. The concerned officer will review and verify your application after submission.

8. You will be notified once your application is approved.

The Bihar Mukhyamantri Alpsankhyak Udyami Yojana is a government initiative aimed at empowering women entrepreneurs. Applicants must follow these steps to access the scheme’s benefits and support for their business ventures.

Mukhyamantri Alpsankhyak Udyami Yojana FAQs

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