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Updated January 16th, 2024 at 22:46 IST

Bihar's Rs 2 lakh assistance to 94 lakh families aims to encourage entrepreneurship

Financial assistance by Bihar government will be given to the families after its committee's nod.

Business Desk
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MSMEs were selected across six product categories | Image:Unsplash
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Boost to entrepreneurship: The Bihar government has approved financial assistance of Rs 2 lakh each to almost 94 lakh families, with a monthly income Rs 6,000 or less, for availing entrepreneurship and self-employment opportunities. This handholding is part of Bihar government's scheme. 

“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. Now, the state government will provide financial assistance of Rs 2 lakh each... for entrepreneurship and self-employment under the Bihar Small Entrepreneur Scheme,” Additional Chief Secretary (Cabinet Secretariat) S Siddharth said.

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The financial assistance by the Bihar government will be given to the families only after approval by a committee, which will be headed by the additional chief secretary of the industries department, he said. “Under the Bihar Small Entrepreneur Scheme, beneficiaries can invest in small-scale/cottage industries, which include handicrafts, textile, service sectors and electrical items,” the senior official said.

The amount will be released in instalments. The cabinet also increased the compensation to labourers working in unorganised sectors in case of death and disability.

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“Labourers (or their families) working in unorganised sectors will now get compensation of Rs 2 lakh (earlier it was Rs 1 lakh) in case of death (unnatural/accidental), and Rs 1 lakh (from Rs 75,000) for permanent disability. Similarly, in case of natural death of a working labourer, his/her family member will get Rs 50,000 as financial assistance,” Siddharth said.

Besides, the cabinet approved 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. 

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(With PTI inputs) 

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Published January 16th, 2024 at 22:45 IST

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