Question
Which category under the PM Mudra Yojana allows for the highest loan amount, and what is the maximum loan limit?
Please read the following passage and answer the following questions ( Q no 23 to 26) based on the passage. Micro, Small, and Medium Enterprises (MSMEs) play a crucial role in India’s economic landscape, serving as the backbone of the country’s growth and development. The significance of developing MSMEs in India can be understood through several dimensions, including job creation, contribution to GDP, promotion of entrepreneurship, and fostering innovation. As the government and various stakeholders focus on strengthening this sector, the potential for MSMEs to drive economic progress and social development becomes increasingly evident. One of the primary reasons for the importance of MSMEs is their capacity to create employment opportunities. MSMEs are responsible for generating a significant portion of jobs in the country, providing livelihoods to millions of people. In India, MSMEs contribute to over 30% of total employment, making them vital for reducing unemployment and underemployment, especially in rural and semi-urban areas. By supporting the growth and sustainability of MSMEs, the government can help create more job opportunities, leading to improved living standards and economic stability for families and communities. MSMEs play a significant role in contributing to India’s Gross Domestic Product (GDP). They account for around 30% of the country's GDP and approximately 48% of total exports. The growth of MSMEs is crucial for enhancing the overall economic output and ensuring balanced regional development. By fostering an environment conducive to MSME growth, India can further boost its economic performance and strengthen its position in the global market.
More Economic and Social Issues ESI Questions
- Under the RAMP Scheme, which of the following is aimed at promoting sustainable practices among MSMEs?
- Which department approved the continuation of the unified central sector scheme 'Vigyan Dhara'?
- Consider the following Statements about the Worker-population ratio. (1) It is an indicator which is used for analysing the employment situation in the c...
- Under credit guarantee scheme for micro and small enterprises, The limit on ceiling for guarantees has been enhanced from Rs. 2 crore to —
- Under Pradhan Mantri Ujjwala Yojna (PMUY), the beneficiaries get how much subsidy in their bank account and how many subsidized cylinders per year?
- How is the funding for the AMRUT Scheme divided between the Central and State Governments for cities with a population greater than 1 million?
- Under the Skill India Mission, what is the significance of Recognition of Prior Learning (RPL)?
- Which of the following Statements about AMRUT is/are True? I- It is the first focused national water Mission, which was launched in 500 cities and covered...
- Which of the following is NOT a component of the AMRUT Scheme?
- Consider the following statements about the Beneficiary-led individual house construction/enhancement (BLC) component of PM Awas Yojana (Urban): I- ...
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