Aizawl: Mizoram Chief Minister Lalduhoma has announced the selection of 517 individuals, referred to as ‘progress partners,’ to receive financial assistance in the first phase of the state’s flagship ‘Bana Kaih’ scheme. This announcement was made at the Chief Minister’s Bana Kaih Innovation Challenge prize distribution ceremony in Aizawl on March 28.
The ‘Bana Kaih’ scheme, launched in September 2024, aims to provide financial support to entrepreneurs and farmers in Mizoram, driving economic growth and self-sufficiency. The scheme aligns with the vision of a ‘Viksit Bharat’ (Developed India) and the United Nations Sustainable Development Goals (SDGs).
Under the scheme, each selected beneficiary will receive Rs 1 lakh in financial aid, courtesy of the Chief Minister’s Special Package. The scheme also offers financial handholding, enabling beneficiaries to access project loans of up to Rs 50 lakh through partner banks. The state government will act as a guarantor under national credit guarantee schemes, ensuring better institutional credit availability, particularly for agriculture and small industrial enterprises.
Beneficiaries who repay their loans on time will be eligible for interest subvention of up to 100 per cent. Additionally, the scheme includes a Chief Minister’s Special Category, which offers grant-in-aid up to Rs 1 lakh for individuals unable to secure loans but engaged in significant livelihood projects.
For the 2025-26 fiscal year, the Mizoram government has allocated Rs 350 crore for the effective implementation of the ‘Bana Kaih’ scheme. This initiative demonstrates the state government’s commitment to supporting farmers, entrepreneurs, and individuals, ensuring sustainable livelihoods and employment opportunities.
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