Question : Which scheme aims to encourage entrepreneurship in rural areas of India?
Option 1: Atal Innovation Mission
Option 2: MUDRA Yojana
Option 3: National Manufacturing Competitiveness Program
Option 4: Pradhan Mantri Rojgar Protsahan Yojana
Correct Answer:
MUDRA Yojana
Solution : The correct answer is (b) MUDRA Yojana.
MUDRA Yojana (Micro Units Development and Refinance Agency Yojana) is a scheme launched by the Government of India that aims to encourage entrepreneurship in rural areas as well as other parts of the country. MUDRA Yojana provides access to finance for micro and small enterprises, including those in rural areas, to support their business activities and promote entrepreneurship. Under the MUDRA Yojana, eligible individuals and enterprises can avail loans from financial institutions such as banks, non-banking financial companies (NBFCs), and microfinance institutions (MFIs) to start or expand their micro and small businesses. The scheme categorizes loans into three categories - Shishu (up to Rs. 50,000), Kishore (from Rs. 50,001 to Rs. 5 lakh), and Tarun (from Rs. 5,00,001 to Rs. 10 lakh) - to cater to the varying needs of entrepreneurs.
