In Bihar Startup Policy, the government is giving interest free loan up to 10 lakh rupees to the youth to start their own business, this loan amount is allocated in the form of speed money.
Bihar Startup Policy: People of all sections of the country get the benefit of the schemes started by the government, along with the central government, the state government also keeps starting many schemes for the citizens of its state, one such scheme has been started by the Bihar government for the citizens of its state, which is known as Bihar Startup Policy.
If you also want to start a business and you have a unique business idea but due to lack of money you are not able to start your business, then under the Bihar government startup policy, to fulfill the dreams of such youth and to help them, it gives interest-free loan up to 10 lakhs, in which the youth taking the loan do not have to pay any interest.
What is this scheme?
Bihar Startup Policy is a scheme of the Government of Bihar which was prepared in 2016 and implemented in 2017. After this, in 2022, the government issued a revised startup policy known as Bihar Startup Policy. Its benefit is given to the youth of Bihar state, under this scheme, youth are given interest-free loan up to Rs 10 lakh for which a budget of Rs 500 crore has been kept, through this scheme the youth of the state can start a new business for themselves and become self-reliant.
Objective of the Scheme
The objective of Bihar Startup Policy is to provide employment opportunities to the youth of Bihar, so that not only the youth will get employment in the state of Bihar but the economic development of the state will also be possible.
Who can apply for this?
- Youth of Bihar state can apply for Bihar Startup Policy.
- To apply in this, a unit registered within 10 years will be valid.
- The turnover of the unit should not exceed 100 crores in any financial year.
- In this, the tax related to the startup must be paid in Bihar only.
- The startup office must be in Bihar.
- For this scheme, the startup must be registered in Bihar.
Benefits of the scheme
- Bihar Startup Policy provides an interest-free loan of up to Rs 10 lakh.
- Under this scheme, a loan of up to Rs 10 lakh is available to start a startup.
- Under this scheme, women entrepreneurs are given an additional incentive of up to 5%.
- In this, SC, ST and Divyang are given an incentive of up to 15%.
- In this scheme, funds are allocated through speed money.
Necessary documents
To apply for Bihar Startup Policy, the applicant must have Aadhar card, PAN card, passport size photo, caste certificate (if applicable), educational qualification certificate, if the startup is registered then its documents, balance sheet, mobile number, email ID. The applicant must have all the necessary documents available while applying.
Loan Process
In Bihar Startup Policy, applicants can apply from its official website, after application, the application form is checked and if the verification is found correct, they are linked to incubators, after this the incubators will guide the startup and they will be given a certificate, after which they will get the loan.
