The Bihar government has taken a significant step to boost entrepreneurship and self-employment in the state by approving financial assistance of Rs 2 lakh each to approximately 94 lakh families with a monthly income of Rs 6,000 or less. The initiative, under the Bihar Small Entrepreneur Scheme, is aimed at fostering economic growth, generating employment opportunities and reducing poverty in the state.
Eligibility and Process
According to the caste-based survey report, Bihar has 94,33,312 families living on an income of Rs 6,000 or less a month . These families are eligible to apply for the financial assistance under the scheme. A committee, headed by the additional chief secretary of the industries department, will approve the financial aid to the beneficiaries. The amount will be released in instalments.
Scope and Benefits
Under the Bihar Small Entrepreneur Scheme, beneficiaries can invest in small-scale/cottage industries, which include handicrafts, textile, service sectors and electrical items. The scheme is expected to help the beneficiaries start their own businesses, enhance their skills and income, and create more jobs in the state. The scheme is also expected to contribute to the state’s industrial development and economic growth.
Other Incentives
The Bihar Cabinet also approved an expansion of the state government’s existing incentives to economically backward classes (EBC) for Bihar Public Service Commission (BPSC) and Union Public Service Commission (UPSC) examinations’ preparation . The cabinet also increased the compensation to labourers working in unorganised sectors in case of death and disability .
The Bihar government’s initiatives reflect its commitment to empower the poor and marginalised sections of the society and provide them with opportunities for entrepreneurship, self-employment and education.