Civil Services Prep

Prelims 2016 · Economy · Question 98

Pradhan Mantri MUDRA Yojana is aimed at

  1. bringing the small entrepreneurs into formal financial system
  2. providing loans to poor farmers for cultivating particular crops
  3. providing pensions to old and destitute persons
  4. funding the voluntary organizations involved in the promotion of skill development and employment generation

Answer

bringing the small entrepreneurs into formal financial system

  • (a) PM MUDRA Yojana provides institutional credit to non-corporate, non-farm small/micro enterprises, helping small entrepreneurs enter the formal financial system. Correct.
  • (b) It is not a crop-specific farm loan scheme; MUDRA mainly targets micro/small business units, not poor farmers for particular crops. Incorrect.
  • (c) PMMY is a credit/loan scheme, not a pension scheme for old and destitute persons. Incorrect.
  • (d) It does not fund voluntary organizations for skill development/employment generation; it supports micro-enterprises through loans. Incorrect.
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