The Bihar government is making serious efforts to give a fillip to small-scale and medium enterprises which would play a crucial role in the overall economic development of the state, a top official of the Industries department said. Around Rs 29 billion have been disbursed to nearly 74,540 beneficiaries under two schemes, one of which was launched only last year, for promoting Micro, Small and Medium Enterprises ( MSMEs) in the state, the official said. Bihar has a strong MSME base. To promote innovation ecosystem and unlock the enormous entrepreneurial potential of the state, the Mukhya Mantri Udyami Yojana (MMUY) and Bihar Laghu Udyami Yojana (BLUY) were launched in 2018 and 2023 respectively focusing on promotion of MSMEs in the state. A total of Rs 26.97 billion was disbursed to 34,441 beneficiaries from 2018 till now under MMUY. Similarly, till date Rs 2 billion of the first instalment has been disbursed to 40,099 beneficiaries under BLUY", Secretary, Department of Industries, Bandana Preyashi told PTI. On the one hand, Bihar is getting big ticket investments for major manufacturing units and on the other hand, the state government is also enabling an ecosystem where the MSMEs can thrive on the ground level for the benefit of the rural economy, Preyashi said. The Bihar Laghu Udyami Yojana aims to provide job opportunities to at least one member of poor families whose monthly income is less than Rs 6,000 a month, she said. The state government is providing Rs 2 lakh to each beneficiary in three instalments to set up and run micro and small industrial and processing units, Preyashi said. The government's objective is promotion of MSMEs through awareness, training and handholding support, the Industries secretary said. The state government is encouraging entrepreneurs and investors through the provision of a safe and sound work environment and basic infrastructural facilities which include land, roads, electricity, and water availability, she said. The Industries secretary further said, "With new policies of the state government, Bihar is witnessing significant investment promotion activities, reinforcing its position as an emerging business and industrial hub in the country. During the Bihar Business Connect 2023, 278 companies signed MoUs, committing to investments totalling Rs 50,530 crore." the secretary said.
