Bihar CM launches 2 schemes to promote Entrepreneurship among Youth & Women

Bihar Chief Minister Nitish Kumar virtually launched 2 new schemes namely ‘Mukhyamantri Mahila Udyami Yojana (MMUY)’ & ‘Mukhyamantri Yuva Udyami Yojana (MYUY)’ to promote entrepreneurship among women and youth of all sections under the state’s ‘MukhyaMantri Udyami Yojana’ scheme.

  • Both the new schemes are meant for the unemployed youths and women hailing from the upper castes and backward castes category.
  • They will be implemented in almost similar pattern of the existing Mukhyamantri SC/ST/EBC Udyami Yojana which was started in 2018.

Mukhyamantri Mahila Udyami Yojana (MMUY)

Under MMUY, an unemployed woman will be provided a sum of INR 10 lakh for starting a new business or small industry.

  • Out of INR 10 lakh, INR 5 lakh would be a subsidy amount which the woman does not need to return, while the remaining INR 5 lakh will be an interest-free loan.
  • The amount can be returned in many installments in the next 7 years after the start of the new enterprise.

Mukhyamantri Yuva Udyami Yojana (MYUY)

Under the scheme, an unemployed youth will be provided a sum of INR 10 lakh to start a new enterprise or industry.

  • Out of the total INR 10 lakh, INR 5 lakh will be the subsidy amount (which they need not return), the rest INR 5 lakh will be a loan on simple interest of 1%, to be returned in many installments.

Recent Related News:

On February 22, 2021, the Deputy Chief Minister (CM) of Bihar Tarkishore Prasad, who holds the finance portfolio, presented his maiden Rs 2,18,302.70 crore revenue-surplus state budget of Bihar for FY22, which is Rs 6,541.21 crore more than the FY21 estimates of Rs 2,11,761.49 crore.

About Bihar

Capital– Patna
Governor– Phagu Chauhan





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