Patna, Oct 8 (IANS): Bihar Chief Minister, Samrat Choudhary, has announced a series of measures to promote entrepreneurship, local manufacturing and employment in the state, saying the government aims to create employment opportunities for one crore people by 2030 and expand the role of local entrepreneurs in the economy.
Choudhary made the announcements on Thursday while addressing an orientation programme for beneficiaries of the Mukhyamantri Udyami Yojana at Patna's Bapu Sabhagar.
During the event, the government also transferred the first or subsequent instalments of financial assistance to around 7,000 beneficiaries.
CM Choudhary said the government has introduced a purchase-preference mechanism under which products manufactured in Bihar and meeting prescribed quality standards will receive priority in government procurement.
He said the objective was to encourage entrepreneurs to establish production facilities within the state rather than manufacture products elsewhere and sell them in Bihar.
For instance, if an entrepreneur can manufacture bicycles or other goods in Bihar, the government wants production to take place within the state.
The policy is intended to create a market for local industries through government procurement.
CM Choudhary has also said that the government would purchase a share of qualifying products manufactured by industries established in Bihar.
Recent reports have put that assured share at 25 per cent for eligible products meeting prescribed standards.
The Chief Minister also highlighted changes intended to increase the participation of Bihar-based entrepreneurs in government contracts.
According to him, for government tenders valued at up to Rs 50 crore, a Bihar-based entrepreneur who ranks L2, L3, or L4 could be considered for the contract if willing to execute the work at the L1 rate.
The stated objective is to provide greater opportunities to local entrepreneurs in government projects.
CM Choudhary said the government is preparing around 45,000 new entrepreneurs under its entrepreneurship initiatives, while approximately 7,000 beneficiaries received their first or subsequent instalments during the programme.
Around Rs 3,500 crore has been earmarked for the initiative, according to the government.
The Mukhyamantri Udyami Yojana provides eligible beneficiaries with financial assistance of up to Rs 10 lakh for setting up enterprises.
Under the scheme, up to Rs 5 lakh is provided as a grant or subsidy and up to Rs 5 lakh as a loan, subject to the applicable scheme category and conditions.
The beneficiaries include people from the Scheduled Castes and Scheduled Tribes, Extremely Backward Classes, women, youth and minority communities.
The official Udyami portal lists separate components of the scheme for these categories.
CM Choudhary said entrepreneurship and the expansion of MSMEs would be central to the government's efforts to generate employment within Bihar.
He said the government wants to reduce migration driven by the lack of livelihood opportunities by creating more jobs and enterprises within the state.
The government has set a broader target of providing government jobs and employment opportunities to one crore people by 2030.
The Chief Minister said that if around 44,000 entrepreneurs each provide employment to an average of five people, the initiative could potentially generate about 2.2 lakh direct jobs.
The figure would rise further if additional entrepreneurs are included as the programme expands.
Choudhary also encouraged entrepreneurs to list their products through the Government e-Marketplace (GeM) and participate in government procurement.
The government believes that linking Bihar-based manufacturers and entrepreneurs with public procurement can provide them with a stable market while encouraging production and investment within the state.
The Chief Minister said the broader objective is to strengthen Bihar's industrial base, expand entrepreneurship and create employment opportunities by promoting local production and MSMEs.
—
This report was published from a syndicated wire feed. Apart from the headline, the EdexLive Desk has not edited the copy.