” Mukhyamantri Udyami Yojana ” in Bihar was a state government initiative which aimed at promoting entrepreneurship and providing financial assistance to small and medium-sized enterprises (SMEs) in the state. The Chief Minister of Bihar, Nitish Kumar, inaugurated the first instalment of the Mukhyamantri Udyami Yojana (CMUY) 2023 on November 16, 2023, at the Bapu Auditorium in Patna. This scheme encourages entrepreneurship among the youth of Bihar by providing them with financial assistance and essential training to start their businesses.
Under this, selected beneficiaries receive an amount of Rs.10 lakhs in financial assistance. The initial disbursement of Rs. 4 lakhs is available after the completion of mandatory training, with the remaining amount distributed in two subsequent instalments of Rs. 4 lakhs and Rs. 2 lakhs, respectively.
To qualify for the CMUY, applicants must be permanent residents of Bihar, within the age range of 21 to 45 years, have a 10th standard education, and must present a viable business plan. The selection process involves an online application, preliminary screening, and a final interview.
The mandatory training associated with the first instalment is a crucial requirement for all CMUY beneficiaries. This training program is designed to equip the essential skills and knowledge necessary to initiate and manage their businesses successfully.
The launch of the initial instalment has generated a lot of excitement among aspiring entrepreneurs in Bihar. The financial aid has already been disbursed to several beneficiaries, indicating a positive move towards enhancing the state’s economy, creating job prospects, and nurturing entrepreneurship.
Covering a diverse range of topics, like Business Basics, Market Research, Financial Management, Marketing and Sales, Legal and Regulatory compliance. Experienced trainers from various industries conduct the interactive and hands-on training, which spans 10-15 days. The program is conducted at multiple locations across Bihar and is offered in both Hindi and English.
Successful completion of the first instalment training not only makes beneficiaries eligible for the initial financial assistance but also qualifies them for the second instalment training, which delves into more advanced business topics.
The first instalment of training provides the basics required for aspiring entrepreneurs, providing them with a solid foundation to navigate the businesses. Apart from learning new skills, the program also offers valuable networking opportunities as beneficiaries interact with like-minded individuals from across Bihar.
For more information about the Mukhyamantri Udyami Yojana 2023 and its associated training programs, please visit the official website of the Bihar Industries Department at https://udyami.bihar.gov.in/
