ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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maintain steady economic growth
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ensure economic stability over a long period of time
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maintain low unemployment
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offer incentives for people to start their own businesses
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Detailed explanation-1: -Provision of Government incentives like availability of power, concessional finance, capital investment subsidies, transport subsidies, etc.
Detailed explanation-2: -(i) bring industrial development uniformly in all regions. (ii) develop more new entrepreneurs which lead to entrepreneurial development. (iii) increase the ability of entrepreneurs to face competition successfully. (iv) reduce the overall problems of small scale entrepreneurs.
Detailed explanation-3: -While, an entrepreneur needs to be innovative while planning and deciding upon business activities as to fulfill the public demand but, it is not his duty to innovate new technology or products. Thus, innovation is not a function to be performed rather an essential characteristic of a successful entrepreneur.
Detailed explanation-4: -Pradhan Mantri Mudra Yojana Under this scheme, Micro Units Development and Refinance Agency Ltd. (“MUDRA”) is an non-banking financial company which supports development of micro enterprise sector in India.