Government will give 10 lakh rupees for business to people above 50 years of age in Bihar, know the complete application process


If you have been thinking of doing any business for a long time, then this news will remove half of your stress. In fact, the government is giving loans up to Rs 10 lakh for business. You can apply online sitting at home.

The government will provide 15 days free training related to your favorite industry and business, after which you can pay Rs 10 lakh at 50 percent subsidy. 50% amount can be repaid in 7 years with 1% interest only. Under the Mukhyamantri Udyami Yojana, the Industries Department has set up a Startup Fund, which can provide financial assistance to people in the age group of 18 to 50 years.

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It has more than 100 categories of industry and business to choose from on their own. Let me tell you that in the online application of about 12 pages, you will have to upload all the desired information and documents including your name, address, mobile number. After this, the officials of the Industries Department will verify the information including the place of work and send it to the selection committee on the basis of the application. The opinion of the members regarding the selected industry will be taken on your application under the chairmanship of the Principal Secretary, Industries Department.

Technical Director of Industries Department, Chandragupta Institute of Management, Industry Director, Finance Corporation, Project Incharge, Chamber of Commerce and Industry, Industry Association, Planning Institute, Financial Advisor and representatives of Development Management Institute during the first week of every month. The members will decide in the meeting.

If you are a citizen of the district then you must have Intermediate or ITI certificate. Application will be accepted on the basis of verification of Aadhar and mobile number. If you set up a firm, you need to provide its registration, bank account, PAN card, proof of residence and place of industrial business. Proof of your land, house or lease has to be submitted.

Also, the information sought in the application will have to be submitted along with photo and digital signature. Backward class and general category will get equal facilities under this scheme. This will also benefit women and scheduled castes. Around 16000 applications have been received in the state. At the same time, only 800 applicants have been received from Patna district. The selected youth will be given 15 days free training. Chandragupta Institute of Management, Lalit Narayan Institute of Management and Bihar Institute of Entrepreneurship have been authorized for the training. The department has set a target of imparting training to these three institutes.


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