Question
Which of the following statements regarding the PM
SVANidhi Scheme are incorrect? 1. The scheme is exclusively for urban street vendors. 2. Beneficiaries of the scheme are eligible for a subsequent loan with higher credit limit upon timely repayment. 3. The scheme offers a cash grant to street vendors. Select the correct answer using the code given below: Read the following passage and answer the Questions (Q no. 17 to 20) based on the passage. Street vendors in India play a vital role in the country’s informal economy, contributing significantly to employment generation, local commerce, and the accessibility of affordable goods and services. Despite operating in an unregulated environment, street vendors serve as a critical link between producers and consumers, offering everything from fresh fruits and vegetables to clothing, household goods, and street food. Their presence is particularly valuable in urban areas where they cater to the daily needs of millions, providing essential goods at competitive prices. Street vendors are a key part of India’s informal sector, which accounts for a substantial portion of the country's overall workforce. For many individuals, particularly those from economically disadvantaged backgrounds, street vending offers an accessible means of livelihood without the need for formal education or significant capital investment. It acts as a source of income for millions who might otherwise struggle to find employment in the formal sector, providing them with the financial stability needed to support their families. In addition to generating employment, street vendors contribute to the local economy by fostering a dynamic and flexible system of commerce. They create a decentralized marketplace, allowing consumers to purchase goods at convenient locations, often at more affordable prices than those found in formal retail outlets. This accessibility not only benefits lower-income consumers but also encourages competition, which helps keep prices in check for all segments of society.Solution
Statement 3 is incorrect. The PM SVANidhi Scheme does not offer a cash grant to street vendors; instead, it provides a working capital loan. Statements 1 and 2 are correct.
Who was honored with the Points of Light honor by the British Prime Minister for his service in World War II?
Who is the only Indian woman to have ever made it to the Top 100 in the WTA Rankings?
Which pair won the men's doubles crown at the BNP Paribas Open 2023, and who did they defeat in the final?
APEDA signed an MoU with which company to promote Indian organic products globally?
What was the significant achievement of Agnikul's Agnibaan launch vehicle?
What does the RoDTEP scheme aim to refund to exporters?
For 2022-23, an export target of ____ has been fixed by the Agricultural and Processed Food Products Export Development Authority (APEDA).
Which Indian- American has been appointed as the new Chief Financial Officer of Tesla?
How much did Tamil Nadu’s Chief Minister M.K. Stalin allocate for the glass bridge project in Kanniyakumari?
Which explosive was successfully tested by the Indian Navy, marking a significant achievement in India's defense self-reliance?