Bihar government took these steps to promote MSME, distributed so much money to 74,540 beneficiaries
A senior official of the industries department in Bihar said around Rs 2,900 crore has been distributed to about 74,540 beneficiaries under two schemes to promote micro, small and medium enterprises (MSMEs) in the state, one of which was launched last year alone. Was started. The official said the Bihar government is making serious efforts to promote small and medium enterprises (MSMEs), which will play an important role in the overall economic development of the state, PTI reported. MSME has a strong base in Bihar.
These schemes were started in 2018 and 2023
According to the news, to boost the innovative ecosystem and unlock the huge entrepreneurial potential of the state, Mukhyamantri Udyami Yojana (MMUY) and Bihar Laghu Udyami Yojana (BLUY) will be launched in 2018 and 2023 respectively, focusing on promoting MSMEs in the state. ) was started. Industries Department Secretary Bandana Preyashi said that since 2018, a total of Rs 2,697 crore has been distributed to 34,441 beneficiaries under MMUY. Similarly, Rs 200 crore of the first installment has been distributed so far to 40,099 beneficiaries under BLUY.
Government is giving Rs 2 lakh to the beneficiary in three installments
Preyashi said that the objective of Bihar Small Entrepreneur Scheme is to provide employment opportunities to at least one member of those poor families whose monthly income is less than Rs 6,000 per month. Preyashi said that the state government is providing Rs 2 lakh in three installments to each beneficiary for setting up and operating micro and small industrial and processing units. The Industries Secretary said that the government aims to promote MSMEs through awareness, training and support. The Secretary said that during Bihar Business Connect 2023, 278 companies signed MoUs for a total investment of Rs 50,530 crore.
Initiatives to promote industrial development and investment
The state government has implemented Bihar Industrial Investment Promotion Policy (BIPP), Bihar Logistics Policy 2023, Ethanol Production Promotion Policy 2021 and Textiles and Leather Policy 2022 to promote industrial development and investment in the state. He said that under these policies, 481 applications were given Phase-1 approval, in which the proposed investment amount is Rs 4,512.85 crore. A total of 175 units were approved for financial incentives with an investment of Rs 2,195.10 crore, the highest since the inception of state investment promotion policies. Moreover, in 2023-24, 255 startups were recognized in the state and a total of Rs 11.92 crore was distributed as seed funding to these startups.
Top priority for infrastructure development
The Secretary said that from April 2023 to January 2024, Bihar Industrial Area Development Authority (BIADA) allotted plots/sheds to 427 units with a total investment size of Rs 6,145 crore, covering 492 acres of land and 35,224 acres in the state. Also creates employment. He said that development of infrastructure in industrial areas has been given top priority. An amount of Rs 409.33 crore under Part-I and Rs 212.68 crore under Special Assistance to States in 2023-24 have been sanctioned for the construction of Unity Mall. In the current financial year 2024-25, 149 units will be allotted Rs. 3,950 to Bihar State Investment Promotion Board. Phase-I approval has been granted for the proposed investment amounting to Rs 48 crore.
