2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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USD 500 million
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USD 700 million
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USD 400 million
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USD 200 million
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Detailed explanation-1: -The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today approved a USD 808 million or Rs 6, 062.45 crore, World Bank assisted programme on “Raising and Accelerating MSME Performance” (RAMP).
Detailed explanation-2: -The $500 million loan from the International Bank for Reconstruction and Development (IBRD), has a maturity of 18.5 years including a 5.5-year grace period. The MSME sector is dominated by small firms that do not grow with age. Over 90% of firms have less than 5 workers.
Detailed explanation-3: -It is estimated that there are 633.9 lakh MSMEs in India. The Micro sector includes 630.5 lakh enterprises, accounting for over 99% of the country’s total number of MSMEs. The Small sector includes 3.3 lakh enterprises (0.5% of total MSMEs), while the Medium sector includes 0.05 lakh enterprises (0.01% of total MSMEs).
Detailed explanation-4: -The correct answer is World Bank. The World Bank has approved a $500 million program to support MSMEs in India to increase liquidity access for viable small businesses impacted by COVID-19.