September 30, 2023

The Bihar

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Portal launched for SC/ST entrepreneurs

2 min read

PATNA: State industries minister Jai Kumar Singh on Friday launched a web portal for Chief Minister SC/ST Entrepreneurship Scheme to promote new and existing SC/ST entrepreneurs who want to set up or already have any enterprise in Bihar.

Speaking on the occasion, Jai said, “A new section for registration of SC/ST entrepreneurs is now available on ‘Udyog Samvad’ ( where budding entrepreneurs are monitored on daily basis by the principal secretary of the department. A committee has been made to look after the registration and document verification after which the entrepreneurs will undergo a 15-day training. Following this capacity building training session, the entrepreneurs will receive funds directly through the committee.”

He added, “We are roping in different colleges and institutions for providing proper training to the aspiring entrepreneurs. We have already tied up with Chandragupta Institute for Management, Development Management Institute, L N Mishra Institute of Economic Development & Social Changes and Anugrah Narayan College.”

Principal secretary S Siddhartha said, “The committee will comprise senior officials from Bihar Chamber of Commerce and Industries, Bihar State Financial Corporation, Bihar Industrial Area Development Authority (BIADA) and Development Management Institute (Patna).”

He said, “The government has allotted Rs102.5 crore to the industry department as initial funds for the scheme. The aim is to establish a direct dialogue between department and the new entrepreneurs who want to set up an enterprise in the state. This is an initiative to resolve the issues of the existing entrepreneurs and to answer the queries of all potential entrepreneurs in the state. Under this scheme, an entrepreneur will be provided Rs10 lakh for a startup. There will be a 50% subsidy and Rs2.5 lakh will be provided as the first instalment to the entrepreneur. The applicant will have to pay zero interest on the loan. After first 14 months, an individual can pay the loan in 84 instalments over a period of seven years.”

Courtesy: TNN

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