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With reference to the MSME Competitive (LEAN) Scheme, consider the following statements:
- The objective of the scheme is to reduce the wastage of the MSMEs sector and increase productivity.
- Under this initiative government will contribute 90% of the implementation cost of handholding and consultancy fees of MSMEs.
Which of the statements given above is/are correct?
- a)1 Only
- b)2 Only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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With reference to the MSME Competitive (LEAN) Scheme, consider the fol...
Objective of the MSME Competitive (LEAN) Scheme:
- The objective of the MSME Competitive (LEAN) Scheme is to reduce wastage in the MSME (Micro, Small, and Medium Enterprises) sector and increase productivity.
Government contribution under the scheme:
- The government will contribute 90% of the implementation cost of handholding and consultancy fees for MSMEs.
Explanation:
The MSME Competitive (LEAN) Scheme aims to support the growth and development of the MSME sector by reducing wastage and improving productivity. The scheme recognizes that wastage is a significant challenge for MSMEs, leading to inefficiencies and reduced profitability. By addressing these issues, the scheme aims to enhance the competitiveness of MSMEs in the market.
Under the scheme, the government plays a crucial role in providing financial support to MSMEs. It contributes 90% of the implementation cost of handholding and consultancy fees. This support is essential as it helps MSMEs access expert advice and guidance to identify and address wastage in their operations. The scheme recognizes the importance of professional assistance in improving productivity and reducing wastage.
By funding a significant portion of the implementation cost, the government ensures that MSMEs can afford the necessary consultancy services. This financial support reduces the burden on MSMEs and encourages them to actively participate in the scheme. It also demonstrates the government's commitment to promoting the growth and development of the MSME sector.
In conclusion, the objective of the MSME Competitive (LEAN) Scheme is to reduce wastage in the MSME sector and increase productivity. The government contributes 90% of the implementation cost of handholding and consultancy fees to support MSMEs in achieving these objectives. Both statements given in the question are correct, and the correct answer is option 'C' (Both 1 and 2).
- The objective of the MSME Competitive (LEAN) Scheme is to reduce wastage in the MSME (Micro, Small, and Medium Enterprises) sector and increase productivity.
Government contribution under the scheme:
- The government will contribute 90% of the implementation cost of handholding and consultancy fees for MSMEs.
Explanation:
The MSME Competitive (LEAN) Scheme aims to support the growth and development of the MSME sector by reducing wastage and improving productivity. The scheme recognizes that wastage is a significant challenge for MSMEs, leading to inefficiencies and reduced profitability. By addressing these issues, the scheme aims to enhance the competitiveness of MSMEs in the market.
Under the scheme, the government plays a crucial role in providing financial support to MSMEs. It contributes 90% of the implementation cost of handholding and consultancy fees. This support is essential as it helps MSMEs access expert advice and guidance to identify and address wastage in their operations. The scheme recognizes the importance of professional assistance in improving productivity and reducing wastage.
By funding a significant portion of the implementation cost, the government ensures that MSMEs can afford the necessary consultancy services. This financial support reduces the burden on MSMEs and encourages them to actively participate in the scheme. It also demonstrates the government's commitment to promoting the growth and development of the MSME sector.
In conclusion, the objective of the MSME Competitive (LEAN) Scheme is to reduce wastage in the MSME sector and increase productivity. The government contributes 90% of the implementation cost of handholding and consultancy fees to support MSMEs in achieving these objectives. Both statements given in the question are correct, and the correct answer is option 'C' (Both 1 and 2).
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With reference to the MSME Competitive (LEAN) Scheme, consider the following statements: The objective of the scheme is to reduce the wastage of the MSMEs sector and increase productivity. Under this initiative government will contribute 90%of theimplementation cost of handholding and consultancy fees of MSMEs.Which of the statements given above is/are correct?a)1 Onlyb)2 Onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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With reference to the MSME Competitive (LEAN) Scheme, consider the following statements: The objective of the scheme is to reduce the wastage of the MSMEs sector and increase productivity. Under this initiative government will contribute 90%of theimplementation cost of handholding and consultancy fees of MSMEs.Which of the statements given above is/are correct?a)1 Onlyb)2 Onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the MSME Competitive (LEAN) Scheme, consider the following statements: The objective of the scheme is to reduce the wastage of the MSMEs sector and increase productivity. Under this initiative government will contribute 90%of theimplementation cost of handholding and consultancy fees of MSMEs.Which of the statements given above is/are correct?a)1 Onlyb)2 Onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the MSME Competitive (LEAN) Scheme, consider the following statements: The objective of the scheme is to reduce the wastage of the MSMEs sector and increase productivity. Under this initiative government will contribute 90%of theimplementation cost of handholding and consultancy fees of MSMEs.Which of the statements given above is/are correct?a)1 Onlyb)2 Onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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