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Consider the following statements regarding PM Vishwakarma Scheme:
- It is a Central Sector Scheme under the Ministry of Micro, Small and Medium Enterprises (MSME).
- The scheme provides credit support with a concessional interest rate of 5%.
Which of the statements given above is/are correct?
- a)Only 1
- b)Only 2
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements regarding PM Vishwakarma Scheme: It ...
PM Vishwakarma Scheme is a Central Sector Scheme under the Ministry of Skill Development and Entrepreneurship (MSDE), not the MSME. Hence, statement 1 is incorrect. The scheme does indeed provide credit support with a concessional interest rate of 5%, making statement 2 correct.
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Consider the following statements regarding PM Vishwakarma Scheme: It ...
Statement 1: It is a Central Sector Scheme under the Ministry of Micro, Small and Medium Enterprises (MSME).
Statement 2: The scheme provides credit support with a concessional interest rate of 5%.
The correct answer is Option B, i.e., Only Statement 2 is correct.
Explanation:
The PM Vishwakarma Scheme is a Central Sector Scheme under the Ministry of Skill Development and Entrepreneurship, not under the Ministry of Micro, Small and Medium Enterprises (MSME). Therefore, Statement 1 is incorrect.
The PM Vishwakarma Scheme is a scheme that aims to provide financial support to traditional artisans and craftsmen to enhance their skills and promote their traditional and indigenous arts and crafts. The scheme provides credit support to these artisans and craftsmen with a concessional interest rate of 5%. Therefore, Statement 2 is correct.
The PM Vishwakarma Scheme is implemented through the National Small Industries Corporation (NSIC). Under this scheme, artisans and craftsmen can avail loans for various purposes, such as setting up new workshops, purchasing tools and equipment, upgrading technology, and marketing their products. The scheme also aims to provide training and capacity building to these artisans to improve their skills and productivity.
The concessional interest rate of 5% is provided to these artisans through a subsidy provided by the government. The scheme also provides for interest subvention, which means that the government will reimburse the difference between the actual interest rate charged by the bank and the concessional interest rate of 5%.
The PM Vishwakarma Scheme is an important initiative to support traditional artisans and craftsmen and promote their art and craft forms. It provides them with financial assistance and training to enhance their skills and improve their livelihoods.
Statement 2: The scheme provides credit support with a concessional interest rate of 5%.
The correct answer is Option B, i.e., Only Statement 2 is correct.
Explanation:
The PM Vishwakarma Scheme is a Central Sector Scheme under the Ministry of Skill Development and Entrepreneurship, not under the Ministry of Micro, Small and Medium Enterprises (MSME). Therefore, Statement 1 is incorrect.
The PM Vishwakarma Scheme is a scheme that aims to provide financial support to traditional artisans and craftsmen to enhance their skills and promote their traditional and indigenous arts and crafts. The scheme provides credit support to these artisans and craftsmen with a concessional interest rate of 5%. Therefore, Statement 2 is correct.
The PM Vishwakarma Scheme is implemented through the National Small Industries Corporation (NSIC). Under this scheme, artisans and craftsmen can avail loans for various purposes, such as setting up new workshops, purchasing tools and equipment, upgrading technology, and marketing their products. The scheme also aims to provide training and capacity building to these artisans to improve their skills and productivity.
The concessional interest rate of 5% is provided to these artisans through a subsidy provided by the government. The scheme also provides for interest subvention, which means that the government will reimburse the difference between the actual interest rate charged by the bank and the concessional interest rate of 5%.
The PM Vishwakarma Scheme is an important initiative to support traditional artisans and craftsmen and promote their art and craft forms. It provides them with financial assistance and training to enhance their skills and improve their livelihoods.
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Consider the following statements regarding PM Vishwakarma Scheme: It is a Central Sector Scheme under the Ministry of Micro, Small and Medium Enterprises (MSME). The scheme provides credit support with a concessional interest rate of 5%.Which of the statements given above is/are correct?a)Only 1b)Only 2c)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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Consider the following statements regarding PM Vishwakarma Scheme: It is a Central Sector Scheme under the Ministry of Micro, Small and Medium Enterprises (MSME). The scheme provides credit support with a concessional interest rate of 5%.Which of the statements given above is/are correct?a)Only 1b)Only 2c)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. 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 Consider the following statements regarding PM Vishwakarma Scheme: It is a Central Sector Scheme under the Ministry of Micro, Small and Medium Enterprises (MSME). The scheme provides credit support with a concessional interest rate of 5%.Which of the statements given above is/are correct?a)Only 1b)Only 2c)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding PM Vishwakarma Scheme: It is a Central Sector Scheme under the Ministry of Micro, Small and Medium Enterprises (MSME). The scheme provides credit support with a concessional interest rate of 5%.Which of the statements given above is/are correct?a)Only 1b)Only 2c)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.
Consider the following statements regarding PM Vishwakarma Scheme: It is a Central Sector Scheme under the Ministry of Micro, Small and Medium Enterprises (MSME). The scheme provides credit support with a concessional interest rate of 5%.Which of the statements given above is/are correct?a)Only 1b)Only 2c)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. 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 Consider the following statements regarding PM Vishwakarma Scheme: It is a Central Sector Scheme under the Ministry of Micro, Small and Medium Enterprises (MSME). The scheme provides credit support with a concessional interest rate of 5%.Which of the statements given above is/are correct?a)Only 1b)Only 2c)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding PM Vishwakarma Scheme: It is a Central Sector Scheme under the Ministry of Micro, Small and Medium Enterprises (MSME). The scheme provides credit support with a concessional interest rate of 5%.Which of the statements given above is/are correct?a)Only 1b)Only 2c)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.
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