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With reference to the PM MITRA Parks, consider the following statements:
- The objective of this initiative is to create an Integrated Textiles Value Chain.
- The Ministry of Textiles will provide Development Capital Support up to Rs. 5000 crores per park.
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
With reference to the PM MITRA Parks, consider the following statement...
The correct answer is option 'A' - 1 Only.
Explanation:
The first statement is correct while the second statement is incorrect.
Explanation of the statements:
1. The objective of this initiative is to create an Integrated Textiles Value Chain:
The PM MITRA (Prime Minister's Manufacturing, Innovation, Transformation, and Upgradation) Parks initiative aims to create an Integrated Textiles Value Chain. The objective is to establish state-of-the-art infrastructure and facilities that will enable the entire textile value chain, from fiber to finished product, to operate within a single park. The parks will have facilities for spinning, weaving, processing, and garment manufacturing. This integrated approach will help streamline the production process, reduce production cycle time, and improve overall efficiency.
2. The Ministry of Textiles will provide Development Capital Support up to Rs. 5000 crores per park:
This statement is incorrect. The Ministry of Textiles does not provide Development Capital Support of up to Rs. 5000 crores per park under the PM MITRA Parks initiative. The exact amount of financial support provided by the government is not mentioned in the given information.
Therefore, the correct answer is option 'A' - 1 Only, as the first statement is correct, but the second statement is incorrect.
Explanation:
The first statement is correct while the second statement is incorrect.
Explanation of the statements:
1. The objective of this initiative is to create an Integrated Textiles Value Chain:
The PM MITRA (Prime Minister's Manufacturing, Innovation, Transformation, and Upgradation) Parks initiative aims to create an Integrated Textiles Value Chain. The objective is to establish state-of-the-art infrastructure and facilities that will enable the entire textile value chain, from fiber to finished product, to operate within a single park. The parks will have facilities for spinning, weaving, processing, and garment manufacturing. This integrated approach will help streamline the production process, reduce production cycle time, and improve overall efficiency.
2. The Ministry of Textiles will provide Development Capital Support up to Rs. 5000 crores per park:
This statement is incorrect. The Ministry of Textiles does not provide Development Capital Support of up to Rs. 5000 crores per park under the PM MITRA Parks initiative. The exact amount of financial support provided by the government is not mentioned in the given information.
Therefore, the correct answer is option 'A' - 1 Only, as the first statement is correct, but the second statement is incorrect.
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Community Answer
With reference to the PM MITRA Parks, consider the following statement...
The Government of India recently announced the sites for setting up of 7 PM Mega Integrated Textile Regions and Apparel (PM MITRA) Parks for the Textile industry.
- Seven sites were chosen out of 18 proposals for PM MITRA parks which were received from 13 States.
- The Parks will come up in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra.
- It will offer the opportunity to create an Integrated Textiles Value Chain right from spinning, weaving, processing/dyeing and printing to garment manufacturing etc. at one location and will reduce the logistics cost of the Industry.
- A Special Purpose Vehicle owned by the Centre and State Government will be set up for each park which will oversee the implementation of the project.
- Funding
- The Ministry of Textiles will provide financial support in the form of Development Capital Support up to Rs. 500 crores per park to the Park SPV.
- A Competitive Incentive Support (CIS) of up to Rs 300 crore per park to the units in PM MITRA Park shall also be provided to incentivise speedy implementation.
Hence only statement 1 is correct.
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With reference to the PM MITRA Parks, consider the following statements: The objective of this initiative is to create an Integrated Textiles Value Chain. The Ministry of Textiles will provide Development Capital Support up to Rs. 5000 crores per park.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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With reference to the PM MITRA Parks, consider the following statements: The objective of this initiative is to create an Integrated Textiles Value Chain. The Ministry of Textiles will provide Development Capital Support up to Rs. 5000 crores per park.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? 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 PM MITRA Parks, consider the following statements: The objective of this initiative is to create an Integrated Textiles Value Chain. The Ministry of Textiles will provide Development Capital Support up to Rs. 5000 crores per park.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? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the PM MITRA Parks, consider the following statements: The objective of this initiative is to create an Integrated Textiles Value Chain. The Ministry of Textiles will provide Development Capital Support up to Rs. 5000 crores per park.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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