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CrackGradeB - PIB > 1st to 10th January 2024 - “YEAR END REVIEW- 2023”- MINISTRY OF MSMEs > Flashcards

1st to 10th January 2024 - “YEAR END REVIEW- 2023”- MINISTRY OF MSMEs Flashcards

1
Q

What is the primary purpose of the Ministry of MSME, Government of India?

A

To promote growth and development of the MSME sector, including Khadi, Village and Coir industries.

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2
Q

What does ‘MSME’ stand for?

A

Micro, Small, and Medium Enterprises

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3
Q

What is the purpose of Udyam Registration?

A

To provide a streamlined, free online registration process for MSMEs, giving them access to government benefits and support.

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4
Q

List 3 key features of Udyam Registration.

A

Paperless process
Self-declaration
Permanent Registration Number (PRN)

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5
Q

What is a 12-digit URN?

A

The Udyam Registration Number, a unique identifier for MSMEs to access government benefits.

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6
Q

How many Udyam registrations were processed between January and December of 2023?

A

88.89 lakh registrations, with the total reaching 2.19 crore.

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7
Q

What is the goal of the Udyam Assist Platform (UAP)?

A

To help Informal Micro Enterprises (IMEs) enter the formal business sector through Udyam registration.

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8
Q

How does the UAP differ from regular Udyam registration?

A

Instead of self-declaration, IMEs get help filling out the registration form from Designated Agencies (banks, NBFCs, government departments)

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9
Q

What does an IME receive after successful registration through UAP?

A

A Udyam Registration Number (URN) and a Udyam Assist Certificate, granting the same benefits as other MSMEs.

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10
Q

List three characteristics of enterprises targeted by the UAP.

A

Less than 10 employees
Annual turnover below Rs. 50 lakhs
No prior formal registration

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11
Q

What is the goal of PM VISHWAKARMA?

A

To improve the quality and reach of products/services created by artisans and craftspeople.

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12
Q

Is PM VISHWAKARMA a Central sector scheme or a State sector scheme?

A

Central sector scheme

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13
Q

What is the financial outlay of PM VISHWAKARMA for its initial 5-year period?

A

Rs. 13,000 crore

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14
Q

List three key features of PM VISHWAKARMA.

A

Skill upgradation (training and stipend)
Toolkit incentive
Collateral-free loans

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15
Q

What is the primary purpose of PMEGP?

A

To provide employment opportunities by supporting the establishment of micro-enterprises in the non-farm sector.

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16
Q

How does the subsidy percentage under PMEGP differ for general category applicants vs. those from special categories?

A

General category: 15-25% (urban vs. rural)
Special categories (SC, ST, OBC, etc.): 25-35%

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17
Q

What is the minimum age to apply for PMEGP?

A

18 years old

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18
Q

What is the maximum project cost allowed for new projects under PMEGP in the manufacturing sector? What about the service sector?

A

Manufacturing: Rs. 50 lakhs
Service: Rs. 20 lakhs

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19
Q

Which agency acts as the nodal agency for PMEGP?

A

Khadi and Village Industries Commission (KVIC)

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20
Q

What is the main purpose of the Credit Guarantee Scheme?

A

To make it easier for MSEs to get access to credit by reducing the risk for lenders.

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21
Q

Which two entities jointly operate the Credit Guarantee Scheme?

A

The Ministry of MSME and SIDBI (Small Industries Development Bank of India)

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22
Q

List three key changes made to the Credit Guarantee Scheme in 2023.

A

Increased guarantee coverage ceiling to Rs. 5 crores
Reduced annual guarantee fees to 0.37%
Increased threshold for waiver of legal action to Rs. 10 lakhs

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23
Q

What is the standard percentage of guarantee cover provided by the scheme?

A

75% of the sanctioned credit amount

24
Q

Under what three circumstances does the guarantee cover increase to 80%?

A

Micro-enterprises with loans up to Rs. 5 lakhs
MSEs owned/operated by women
MSEs in the North-East Region

25
Q

What is the guarantee cover period for working capital loans?

A

5 years or a block of 5 years.

26
Q

What is the primary goal of the SRI Fund (Self Reliant India Fund)?

A

To provide growth capital to deserving MSMEs, supporting their development.

27
Q

When was the SRI Fund launched, and as part of which larger initiative?

A

2020, as part of the AtmaNirbhar Bharat package.

28
Q

How does the SRI Fund work? Does it invest in MSMEs directly?

A

No, it uses a “fund of funds” structure. The SRI Fund invests in daughter funds (Category I and II AIFs), which then invest in MSMEs.

29
Q

What is the role of NSIC Venture Capital Fund Limited (NVCFL) within the SRI Fund structure?

A

It acts as the Mother Fund, managing the SRI Fund and overseeing the selection of daughter funds.

30
Q

Between January 1st and November 30th of 2023, how many daughter funds were empaneled by the SRI Fund?

A

14 daughter funds

31
Q

During the same period in 2023, how much money did the SRI Fund invest through daughter funds?

A

More than Rs. 3658 crore

32
Q

How many MSEs received assistance due to SRI Fund investments during that time period?

A

242 potential MSEs

33
Q

What is the main objective of the MSE-CDP?

A

To enhance the productivity and competitiveness of Micro and Small Enterprises (MSEs).

34
Q

In what year was the MSE-CDP launched?

A

2003

35
Q

The MSE-CDP focuses on a specific approach. What is this approach?

A

The cluster development approach (supporting groups of MSEs in specific locations/industries).

36
Q

Can you list two ways the MSE-CDP might achieve its objective of improving competitiveness?

A

(Possible answers include, but are not limited to)

Infrastructure development in clusters
Funding Common Facility Centers (for shared resources, testing, etc.)
Skills training for MSE workers
Support for technology upgrades

37
Q

What is the full name of the SFURTI scheme?

A

Scheme of Fund for Regeneration of Traditional Industries

38
Q

What is the main goal of SFURTI?

A

To support the revival and sustainability of India’s traditional crafts and industries, benefiting artisans and clusters.

39
Q

When was the SFURTI scheme launched? In what year was it revamped?

A

Launched in 2005-2006, revamped in 2014-2015.

40
Q

List the three types of interventions covered by SFURTI.

A

Soft Interventions
Hard Interventions
Thematic Interventions

41
Q

What’s the minimum number of artisans required for a traditional industry cluster to be eligible for SFURTI?

A

50 artisans.

42
Q

Which two agencies act as Nodal Agencies for SFURTI, and what types of clusters do they oversee?

A

Khadi & Village Industries Commission (KVIC): Khadi and Village Industry clusters
Coir Board (CB): Coir-based clusters.

43
Q

What is the maximum financial assistance available under SFURTI for a single project?

A

Rs. 5 crore

44
Q

Under the standard SFURTI funding model, what percentage of Hard Intervention costs does the implementing agency contribute?

A

10%

45
Q

What is the role of the SFURTI Administrative Fund?

A

Covers the Ministry’s administrative and management expenses for the scheme (4% of the total budget).

46
Q

How has the implementation timeline for SFURTI clusters changed since March 2020?

A

Reduced from 3 years to 12-18 months.

47
Q

In the North Eastern Region (NER), J&K, and hilly states, how does the funding structure differ for Soft Interventions?

A

The implementing agency contributes 5% and the scheme contributes 95% (compared to a 10/90 split elsewhere).

48
Q

What does ASPIRE stand for?

A

A Scheme for Promoting Innovation, Rural Industry & Entrepreneurship

49
Q

Which Indian ministry launched the ASPIRE scheme?

A

The Ministry of MSME (Micro, Small & Medium Enterprises), Government of India

50
Q

What are the main goals of ASPIRE?

A

Set up Livelihood Business Incubation Centers (LBI)
Provide entrepreneurship and skill training
Support business creation
Reduce unemployment, especially in rural areas

51
Q

Who is the nodal agency that manages the ASPIRE scheme?

A

The National Small Industries Corporation (NSIC)

52
Q

Describe the funding provided by ASPIRE for centers set up directly by government bodies or MSME agencies.

A

One-time grant covering 100% of the cost of plant and machinery (excluding land and infrastructure), up to a maximum of INR 100 lakhs.

53
Q

What level of funding does ASPIRE provide for incubation centers set up under a Public-Private Partnership (PPP)?

A

One-time grant covering 50% cost of plant & machinery (excluding land and infrastructure), up to a maximum of INR 50 lakhs.

54
Q

What is the ASPIRE Fund of Funds (FoF) and who manages it?

A

A fund focused on investing in startups and early-stage businesses through Alternate Investment Funds (AIFs).
Managed by SIDBI (Small Industries Development Bank of India)

55
Q

What are the key things the ASPIRE Fund of Funds aims to support?

A

Innovation and entrepreneurship
Connections within manufacturing and service industries
Accelerator programs focused on the agricultural sector

56
Q

How does the ASPIRE Fund intend to impact the Indian economy?

A

By boosting the rural economy through support for businesses in the agro-based industry

CrackGradeB - PIB (105 decks)

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