PATNA: With an eye on election, Bihar chief minister Nitish Kumar on Saturday launched an exclusive scheme for the entrepreneurs belonging to the scheduled caste and scheduled tribe communities.

Under the scheme, named as Mukkyamantri Anusuchit Jati Evam Anusuchit Janjati Udyami Yojana (Chief Minister Scheduled Caste and Scheduled Tribes Entrepreneur Scheme), an eligible beneficiary will be provided financial assistance of Rs 10 lakh for starting up a small scale industry or a trade.

“Of the total assistance, Rs 5 lakh will be provided as subsidy, while the rest Rs 5 lakh as interest-free loan, to be returned in 84 instalments. Moreover, the repayment instalment would begin only after the proposed industry or trade will start its operation. No interest will be charged on the loan,” CM said while addressing the launching function of the scheme at the Adhiveshan Bhawan here.

Nitish further informed the outline of the scheme was discussed only two months ago. “I want to congratulate the industries department for launching the scheme in such a short period,” he said and added that a total of 3,000 applications were received, of which 500 people have been selected for providing financial assistance.

Industries department’s principal secretary S Siddharth said, of the 500 selected people, 150 have been provided necessary training while another batch of 150 would begin training from the coming Monday.

He said the members of SC/ST communities had been facing immense difficulties in getting a loan from nationalised banks. Banks used to reject their applications on one or the other pretext or lack of required documents. “Under this state government’s scheme, the loan is being granted on self-declaration of the beneficiary,” he said.

In his address, Nitish recounted how his government had been actively working for development of all sections of the society. “We are doing works for all sections of the society, but giving special attention for progress of the weaker section. we have taken several steps to bring the members of the SC/ ST communities in the mainstream of the society,” he said.

Nitish also distributed cheques among five beneficiaries of the scheme on the occasion. industries minister Jai Kumar Singh, building construction minister Maheshwar Hazari, transport minister Santosh Kumar Nirala and former minister and JD(U) MLC Ashok Choudhary also spoke on the occasion and lauded the steps being taken by the CM for overall upliftment of weaker section of the society.

