Why In the News?

• Chief Minister Nitish Kumar's cabinet approved the 'Minority Entrepreneur Scheme' to promote entrepreneurship and increase self-employment among the minority youth of the state.

Key Points:

=> Rs. 100 crores has been made available in the Entrepreneur Scheme.

=>  Under this scheme, the total project cost (Per Unit) maximum of Rs. 10 lakhs will be given to the beneficiaries setting up industries.

=> Out of this, 50 percent amount will be in the form of a loan (maximum Rs. 5 lakh) and 50 percent amount will be in the form of a grant (maximum Rs. 5 lakh).

=>  Under this scheme, funds will be given only for setting up new industries.

=> This scheme will be effective from the date of issue of the resolution.

=> The Additional Chief Secretary said that people belonging to the minority category will be eligible for this scheme.

=> Women belonging to the minority category will be eligible to apply for either the Chief Minister Minority Entrepreneur Scheme or the Chief Minister Mahila Entrepreneur Scheme as per their wish.

=> It is known that in the past Chief Minister Scheduled Caste, Scheduled Tribe, Extremely Backward Class, Young Entrepreneur, Women Entrepreneur Scheme has been implemented.