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Consider the following statements regarding the PM Formalisation of Micro Food Processing Enterprises Scheme (PMFME)
- It is a centrally sponsored scheme to be implemented over a 5-year period.
- Ministry of Micro, Small, and Medium Enterprises is the nodal Ministry for implementing the scheme.
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 'A'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements regarding the PM Formalisation of Mi...
The correct answer is option 'A' - 1 only.
Explanation:
The PM Formalisation of Micro Food Processing Enterprises Scheme (PMFME) is a centrally sponsored scheme aimed at providing support and assistance to micro food processing enterprises in India. Let's examine the given statements to determine their correctness:
1) It is a centrally sponsored scheme to be implemented over a 5-year period.
This statement is correct. The PMFME scheme is a centrally sponsored scheme, which means that both the central and state governments share the financial burden of implementing the scheme. It is designed to be implemented over a 5-year period, with a specific focus on the development and formalization of micro food processing enterprises.
2) Ministry of Micro, Small, and Medium Enterprises is the nodal Ministry for implementing the scheme.
This statement is incorrect. The Ministry of Food Processing Industries (MoFPI) is the nodal ministry responsible for implementing the PMFME scheme, not the Ministry of Micro, Small, and Medium Enterprises (MSME). The MoFPI is the central government ministry that is specifically dedicated to the development and promotion of the food processing sector in India.
In conclusion, only statement 1 is correct. The PMFME scheme is a centrally sponsored scheme to be implemented over a 5-year period, but the Ministry of Food Processing Industries (MoFPI) is the nodal ministry responsible for implementing the scheme, not the Ministry of Micro, Small, and Medium Enterprises (MSME).
Explanation:
The PM Formalisation of Micro Food Processing Enterprises Scheme (PMFME) is a centrally sponsored scheme aimed at providing support and assistance to micro food processing enterprises in India. Let's examine the given statements to determine their correctness:
1) It is a centrally sponsored scheme to be implemented over a 5-year period.
This statement is correct. The PMFME scheme is a centrally sponsored scheme, which means that both the central and state governments share the financial burden of implementing the scheme. It is designed to be implemented over a 5-year period, with a specific focus on the development and formalization of micro food processing enterprises.
2) Ministry of Micro, Small, and Medium Enterprises is the nodal Ministry for implementing the scheme.
This statement is incorrect. The Ministry of Food Processing Industries (MoFPI) is the nodal ministry responsible for implementing the PMFME scheme, not the Ministry of Micro, Small, and Medium Enterprises (MSME). The MoFPI is the central government ministry that is specifically dedicated to the development and promotion of the food processing sector in India.
In conclusion, only statement 1 is correct. The PMFME scheme is a centrally sponsored scheme to be implemented over a 5-year period, but the Ministry of Food Processing Industries (MoFPI) is the nodal ministry responsible for implementing the scheme, not the Ministry of Micro, Small, and Medium Enterprises (MSME).
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Consider the following statements regarding the PM Formalisation of Micro Food Processing Enterprises Scheme (PMFME) It is a centrally sponsored scheme to be implemented over a 5-year period. Ministry of Micro, Small, and Medium Enterprises is the nodal Ministry for implementing the scheme.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 'A'. Can you explain this answer?
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