New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Please read passage and the answer the following questions ( Q no 15 to 18) based on the passage. The procurement of goods and services by the government is a vital aspect of economic development, particularly for small business owners. By engaging with small businesses in procurement processes, the government can foster entrepreneurship, stimulate economic growth, and promote inclusive development. The importance of government procurement for small business owners can be highlighted through several key dimensions, including economic empowerment, job creation, innovation, and community development. Government procurement provides small business owners with crucial economic opportunities. By setting aside a percentage of contracts specifically for small businesses, governments can empower these enterprises to compete on a more level playing field with larger corporations. This not only helps to enhance the financial stability of small businesses but also contributes to the overall economic resilience of local communities. When small businesses secure government contracts, they gain access to steady revenue streams that can support their growth and sustainability. Small businesses are significant job creators in the economy. When they receive government contracts, they often need to expand their operations, which can lead to the creation of new jobs. By supporting small business procurement, the government indirectly contributes to reducing unemployment and promoting workforce development. The jobs created in small businesses often provide local employment opportunities, thus enhancing the economic health of the community and improving the standard of living for residents.

    Which organization is responsible for managing the e-NAM

    platform?
    A National Bank for Agriculture and Rural Development (NABARD) Correct Answer Incorrect Answer
    B Ministry of Commerce and Industry Correct Answer Incorrect Answer
    C Small Farmers' Agribusiness Consortium (SFAC) Correct Answer Incorrect Answer
    D Food Corporation of India (FCI) Correct Answer Incorrect Answer
    E Ministry of Rural Development Correct Answer Incorrect Answer

    Solution

    The e-NAM platform is managed by the Small Farmers' Agribusiness Consortium (SFAC), which operates under the Ministry of Agriculture and Farmers' Welfare.

    Practice Next