Chief Minister Lalduhoma launched the Mizoram Bana Kaih Policy 2024 in the state. To achieve sustainable socio-economic growth of the state, the government of Mizoram has introduced Mizoram Bana Kaih Policy 2024. The policy envisages a wide range of activities to be performed in collaboration with state departments and public participation. This is a developmental step taken by the Mizoram government to provide basic and financial support to the aspiring youth of the state.
With the help of this scheme, all young individuals who are capable of undertaking new ventures but lacking finance can now proceed for their project implementation with all necessary support from the state government. Read below to check all the crucial details regarding Mizoram Bana Kaih Policy 2024.
Mizoram Bana Kaih Policy Launch Date
The Mizoram Bana Kaih Policy Scheme was launched in September 2024 by Chief Minister Mr. Lalduhoma. The scheme has come into effect from September 19, 2024, and will remain operational for the initial 5 years. Bana Kaih Policy is a holistic approach towards the socio-economic development of Mizoram that will be implemented by bringing major government departments and other participants together. This policy has been framed to achieve rapid growth in the state’s development by enabling the youth and other potentially capable organizations. A Chief Minister Special Package Grant is also envisaged in this policy that would provide support of INR 1.00 lakh to each progress partner.
Mizoram Bana Kaih Policy Details in Summary 2024
| Name of Scheme | Mizoram Bana Kaih Policy |
|---|---|
| Concerned Government | Government of Mizoram |
| Introduced by | Chief Minister Lalduhoma |
| Scheme type | Socio-Economic Development Scheme |
| Benefits | Financial and other support |
| Special package Grant | INR 1.00 lakh |
| Beneficiaries | Permanent Citizens of Mizoram |
| Application/Registration Process | Online |
| Official Website | Handholding Mizoram Official Portal |
Objectives of Mizoram Bana Kaih Policy
The main objectives of the Mizoram Bana Kaih Policy are as follows:.
- Effective Convergence of Actions: To ensure convergence and integration of efforts across various stakeholders, departments, and sectors so that the highest socio-economic development could be achieved.
- Efficient Resource Mobilisation and Allocation: To ensure optimal allocation and mobilisation to generate and enhance livelihoods from central and state government schemes and to gain benefits from credit linkage and private sectors.
- Establish Progress Partners: To encourage and identify progress partners such as individuals, societies, entrepreneurs, innovators, and other entities to participate in employment and income-generating activities for the state.
- Promote Gainful Engagement of Youth: To promote skill and entrepreneurship development among youth and encourage them to undertake new enterprises and start-ups.
Key Features
- The Mizoram Bana Kaih (Handholding) scheme is a state-sponsored scheme that envisages ensuring rapid economic growth to make Mizoram a fully developed state.
- With the help of this policy, the government of Mizoram will promote start-ups and new enterprises by supporting individuals, societies, and organisations with finance and all other necessary support.
- This scheme will be considered operational from September 19, 2024, and will remain in operation for the initial five years.
- The scheme also has a part called the Chief Minister Special Package Grant that will provide financial support up to INR 1.00 lakh to progress partners.
- The scheme shall cover all the districts of Mizoram, such as Aizawl, Champhai, Hnahthial, Khawzawl, Kolasib, Lawngtlai, Lunglei, Mamit, Saitual, Serchhip, and Siaha.
Chief Minister’s Special Package Grant
Under the Chief Minister Special Package Grant, a sum of INR 1.00 lakh will be offered to all the eligible progress partners. This amount will be provided to support entrepreneurial activities of young individuals. A special package grant will be provided only to those who are not eligible for any bank loan under schemes of the central government of India.
Budget Allocation
The Mizoram government has allocated a budget of INR 200 crores for the successful implementation of the Mizoram Bana Kaih Scheme. This much amount will be expensed for the Chief Minister Special Package grant to provide small financial support to those progress partners who are engaged in small ventures and create wealth and employment. Financial aid from the Chief Minister Special Package Grant will be based on the Detailed Project Report of the Progress Partner.
Definition of Progress Partners
Under Mizoram Bana Kaih Policy, Progress Partners are those who participate in wealth and employment generation by undertaking business ventures and new enterprises. Progress partners may be an individual or an organisation with high potential for wealth and employment generation and selected by the apex body for availing benefits of the Bana Kaih Scheme. There will be two different kind of Progress Partners; they are as below:
- Targeted Progress Partners: They will be selected by the Apex body under the direct supervision of the Chief Minister. They will be able to avail of collateral free loans under Central schemes and will be supported with 100% interest subvention.
- General Progress Partners: They will not be selected by the Apex body. They can also avail of collateral-free bank loans under central schemes but are not supported with 100% interest subvention and credit guarantee from the Mizoram government.
Benefits of Mizoram Bana Kaih Policy 2024
- Collateral Free and Interest Free Bank Loan: Bank loan facilities will be offered to progress partners. For the purpose, progress partners will be supported with central government schemes such as PMEGP, PMMY, SUI, KCC, etc. A loan will be provided with a full credit guarantee and interest subvention. The facility of full interest subvention for bank loans up to INR 50.00 lakhs will be offered.
- Chief Minister’s Special Package Grant: This is a strategic funding instrument available for those progress partners who are not in a position to avail of bank loans. A maximum of INR 1.00 lakh will be offered as a special package grant.
- Capacity Building through Training Programmes: Training programs will be launched to build capacity among progress partners. There will be two components in it. The first one is orientation training that will be organised by the Nodal Department and will be based on motivation, financial literacy, leadership training, work ethics, etc. The second one is technical training that will be organised by the Implementing Department to teach technical aspects to progress partners.
Eligibility Criteria
- The applicant should be a citizen of India and a permanent resident of the state of Mizoram.
- The age of the applicant should be 18 years or more.
- The applicant should not be a central or state government employee.
- He/she should have a full-time feasible livelihood project or business plan that should outline products and services and financial projections.
- The livelihood plan should have potential to generate income and employment.
- The applicant should demonstrate entrepreneurial potential to successfully launch and implement the project plan.
- The applicant should be willing to undergo mandatory capacity-building training.
- Applicants are required to timely/prompt repayment of loans granted for the livelihood project.
- The applicant should also satisfy all other eligibility criteria necessary to avail of the loan benefits under central government schemes.
Required Documents
- Aadhar Card
- Address Proof
- PAN Card
- Detailed Project Report
- Copy of Bank Account Passbook.
- Mobile Number
- Email Id.
- Photograph
Application Process for Mizoram Bana Kaih Policy 2024
All the eligible progress partners/applicants are required to register first on the official portal and then proceed for online application submission under Mizoram Bana Kaih Scheme 2024. The process requires the following steps:.
- For the first, visit the Handholding Mizoram Official Website.
- You will reach the home page of the website.
- On the home page, click on the Register New User option to proceed further.
- The online registration form will appear on your screen.
- Fill in your name, EPIC number, and mobile WhatsApp number.
- Create a password and confirm it by re-entering.
- Click Submit at last.
- Your registration will complete this way, and you will receive a notification.
- Next, return to the home page and login using your credentials, such as the registered mobile number and password you created.
- After logging in, you are required to proceed with the online application.
- Fill in all mandatory fields, such as your personal details, professional details, educational qualification, address, Detailed project report, Bank account details, etc.
- Scan and upload all the required documents in the said file type and size.
- Now proceed for the final submission.
- On successful submission, you will receive a confirmation SMS on your registered mobile number.
Contact Details
- Helpline Number: 8119-019-900
Important FAQs
What is Mizoram Bana Kaih Policy 2024?
This is a socio-economic-based development policy launched by the Mizoram government to achieve the Sustainable Development Goals.
What is the objective of Mizoram Bana Kaih Policy 2024?
The main objective of the policy is to ensure rapid and sustainable socio-economic growth of the state.
When did the policy come into effect?
This policy came into effect on September 19, 2024.
For how many years will it be applied?
The scheme will be operational for the initial 5 years until 2029.
Which areas are covered under Mizoram Bana Kaih Policy 2024?
All 11 districts of Mizoram are covered under the Bana Kaih Scheme Policy.
What is the Chief Minister’s Special Package Grant?
This is a special grant available for those progress partners who are unable to avail loans from scheduled banks through any schemes of the central and state governments.
Who are progress partners under the Mizoram Bana Kaih Policy?
Progress partners may be individuals, organisations, societies, and other entities that actively participate in the wealth and employment generation drive under the Bana Kaih Policy.
What is the process to apply for the scheme benefit?
The process is online, and one can proceed with it through the official website.
Can applicants from other states apply?
No, only original and permanent residents of Mizoram can apply for the scheme.
What is the official website of Mizoram Bana Kaih policy?
The official website is: https://handholding.mizoram.gov.in/