Assam Chief Minister Himanta Biswa Sarma on Thursday distributed financial assistance worth more than Rs 278 crore to young entrepreneurs under the Chief Minister’s Atmanirbhar Asom Abhijan (CMAAA) 1.0 and 2.0, reaffirming the state government’s focus on promoting entrepreneurship and economic self-reliance among the youth.

Speaking at a financial assistance distribution ceremony held at the Jyoti-Bishnu Antarjatik Kala Mandir in Khanapara in Guwahati, Sarma said the initiative was aimed not merely at providing financial support but at encouraging young people to establish businesses and become successful entrepreneurs.

Under the scheme, beneficiaries in the General Category receive Rs 2 lakh each, comprising a 50 per cent grant and a 50 per cent interest-free loan. Entrepreneurs under the Professional Category are eligible for Rs 5 lakh, structured under the same funding model.

According to programme details, a total of 82,219 entrepreneurs are covered under CMAAA 1.0 and 2.0. The first phase includes 9,552 general-category and 26 professional-category beneficiaries, while the second phase covers 72,447 general-category and 194 professional-category entrepreneurs.

The government is distributing more than Rs 196 crore under CMAAA 1.0, while the allocation for CMAAA 2.0 stands at over Rs 182 crore.

Sarma said the government had previously provided Rs 75,000 during the initial phase and Rs 25,000 in a subsequent phase to support young beneficiaries pursuing entrepreneurship. However, several beneficiaries failed to meet the eligibility requirements for further assistance. Of approximately 13,000 beneficiaries, around 9,552 met the requirements, while nearly 4,000 did not qualify.

The Chief Minister attributed some unsuccessful cases to beneficiaries taking up jobs and discontinuing their businesses. The initiative also includes skill development training and marketing support to help entrepreneurs strengthen their businesses and improve their prospects for long-term sustainability.

Industries, Commerce and Public Enterprises Minister Bimal Borah, officials and participating entrepreneurs attended the ceremony.