Mizoram CM unveils first phase of ‘Bana Kaih’ scheme, 517 beneficiaries selected

Mizoram Chief Minister Lalduhoma announced on Friday, March 28 that 517 individuals, referred to as ‘progress partners,’ have been selected to receive financial assistance in the first phase of the state’s flagship ‘Bana Kaih’ scheme.

Speaking at the Chief Minister’s Bana Kaih Innovation Challenge prize distribution ceremony in Aizawl, Lalduhoma emphasized the state government’s commitment to supporting farmers, entrepreneurs, and individuals through this initiative, ensuring sustainable livelihoods and employment opportunities.

The CM further stated that under the Chief Minister's Special Package of the scheme, each selected beneficiary will receive Rs 1 lakh in financial aid.

Launched in September 2024, the Bana Kaih scheme is a comprehensive initiative aimed at providing financial support to entrepreneurs and farmers to drive economic growth and self-sufficiency in Mizoram. The scheme will be implemented in convergence with central government initiatives and aligns with the vision of a ‘Viksit Bharat’ (Developed India) and the United Nations Sustainable Development Goals (SDGs).

A key feature of the scheme is the provision of financial handholding to beneficiaries, allowing them 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.