Invited Speaker, Professor Soumya Prakash Patra: “Empowering Entrepreneurship and Economic Growth: An Impact Assessment of the CM Udyami Yojana in Bihar, India”


This presentation delves into a comprehensive analysis of the Chief Minister SC/ST/EBC Udyami Yojana in Bihar, exploring its significant contributions to economic growth, employment generation, and the upliftment of marginalized communities. The study evaluates the scheme’s effectiveness in promoting entrepreneurship and improving the standard of living across various demographics.

Key findings highlight the scheme’s success in creating employment opportunities, with a noteworthy rise in female participation, thus fostering gender inclusivity. Effective fund utilization has been demonstrated through a detailed analysis of gender-wise and district-wise allocations, showcasing the program’s efficiency in resource management.

The Udyami Yojana has catalyzed entrepreneurial enthusiasm, leading to a noticeable increase in business ventures within local communities. This upsurge in entrepreneurship has positively impacted living standards, reflected in enhanced food consumption, increased expenditure on education, and better access to healthcare services.

However, the study also identifies areas for improvement, such as overcoming marketing challenges and enhancing operational support for scheme beneficiaries. Recommendations for augmenting the scheme’s effectiveness include the development of targeted marketing strategies, ongoing training and support, simplified compliance processes, and initiatives to build trust between entrepreneurs and government entities.

About the speaker

Dr. Soumya Prakash Patra, an assistant professor for the Indian Institute of Management Bodh Gaya, merges extensive industry expertise from TVS Motor Company and Tata Steel with a robust academic background. He holds 24 patents in areas like Anti-lock Brake Systems (ABS) and Combined Brake Systems (CBS) and is a registered patent agent in India. His research focuses on patent licensing, intellectual property management, and the intersection of technology and law, reflected in publications in reputable journals.