Livelihood Business Incubator (LBI) Centres in Rajasthan: 9 things you should know

Jaipur: The Rajasthan government is setting up seven centres in the state for youths who want to launch a startup catering to 50 different types of businesses. If you have a startup idea, you can get a lot of help from these centres with regard to training and guidance. Here is what you should know about Livelihood Business Incubator (LBI) centres if you are planning to be an entrepreneur in the near future:

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• These centres are being opened in seven cities of Rajasthan including Jaipur, Udaipur, Alwar, Kota, Ajmer, Bikaner and Jodhopur.
• The Rajasthan government given financial approval for setting up these centres.
• Youths who want to start a business will get training on manufacturing products and marketing them effectively.
• They will also be trained for managing their business and how they can optimize their business accounts for maximum profits and tax savings.
• These centres will have machinery and equipment for businesses involved in napkin production, solar inverters, solar panels, lamps, organic fertilizers, food processing, water filtration, LID, green house etc.
• Each LIB centre will get a grant of Rs 1 crore from the central government.
• If the business model is successful, you can get loans from banks under Bhamashah Employment Generation Scheme (Bhamashah Rojgar Shrijan Yojana) and Prime Minister Employment Generation Programme.
• You will get 4 percent discount on your loan instalments.
• Under the Bhamashah Rojgar Shrijan Yojana, the government has already distributed loans worth nearly Rs 172 crore to 14632 youths in 2015-16 and 2016-17. The amount of loan is Rs 428 crore for 4299 youths under the Prime Minister Employment Generation Programme.