ENTREPRENEURSHIP SKILLS FOR GROWTH-ORIENTED MSMES IN BIHAR STATE

With the notion of growth and the empowerment of citizens' economic conditions, various state governments in India have taken a lot of initiative in the periphery of entrepreneurship. The significance of entrepreneurship in supporting economic development has been identified as a stepping stone by many researchers, and it is well-recognised that education and training go hand-in-hand and play a crucial role in nurturing future entrepreneurs and developing the abilities of existing entrepreneurs to grow their established businesses to greater success. Entrepreneurship is breaking through the old rudiments. Financial support from the Government of Bihar to weaker sections has strengthened the backbone of its economy. To promote an innovation ecosystem and unlock the enormous entrepreneurial potential of the state, the Mukhya Mantri Udyami Yojana (MMUY) and Bihar Laghu Udyami Yojana (BLUY), which were launched in 2018 and 2023, respectively, focus on the promotion of MSMEs in the state. Approximately 29 billion INR have been disbursed to nearly 74,540 beneficiaries under MMUY scheme and 56,248 proposals are accepted under BLUY scheme. This research paper highlights the impact of various training programs that are provided to the beneficiaries in Bihar state and also studies whether or not, these schemes are acting as a catalyst for further entrepreneurship development programs.