Question : Which program aims to provide financial assistance to rural artisans and craftsmen?

Option 1: Pradhan Mantri Awas Yojana (PMAY)
    

Option 2: Pradhan Mantri Mudra Yojana (PMMY)
 

Option 3: Deen Dayal Upadhyaya Antyodaya Yojana (DAY-NRLM)

 

Option 4: National Rural Livelihood Mission (NRLM)

Correct Answer: Pradhan Mantri Mudra Yojana (PMMY)

Solution : The correct answer is (b) Pradhan Mantri Mudra Yojana (PMMY).

Pradhan Mantri Mudra Yojana (PMMY) is a flagship program launched by the Government of India to provide financial support to micro and small enterprises, including rural artisans and craftsmen. It focuses on promoting entrepreneurship and facilitating access to credit for small businesses in the non-corporate sector.

Under PMMY, financial assistance is provided through various financial institutions, including banks, microfinance institutions, and non-banking financial companies (NBFCs). The loans provided are categorized into three categories, namely Shishu, Kishore, and Tarun, based on the stage of business development and loan requirements.

Rural artisans and craftsmen can avail loans under the PMMY scheme to start, expand, or diversify their businesses. The loans can be used for purchasing tools and equipment, working capital requirements, setting up production units, and other business-related activities.

The objective of PMMY is to promote entrepreneurship, boost self-employment, and enable small businesses to grow and contribute to the economy. It provides financial assistance to a wide range of sectors, including artisans, craftsmen, traders, and other small business enterprises.