Under the Mukhyamantri Udyami Yojana of Bihar, how much of the project cost is given as a subsidy?
- A.Twenty-five per cent, up to Rs 2 lakh
- B.Fifty per cent, up to Rs 5 lakh
- C.The whole project cost
- D.Nothing; the entire amount is a bank loan
Correct answer
Explanation
The correct answer is B, Fifty per cent, up to Rs 5 lakh. The scheme of the industries department allows a project of up to Rs 10 lakh for a new enterprise and gives half of it, that is up to Rs 5 lakh, as a subsidy that need not be repaid, the rest being a loan at a nominal rate of interest repayable in instalments. Separate windows exist for Scheduled Caste and Scheduled Tribe, Extremely Backward Class, women and youth entrepreneurs.
Option A understates both the share and the ceiling. Option C is wrong because no part of the scheme gives the entire cost as a grant; the borrower must run the unit and repay the loan portion. Option D is wrong because the subsidy is the heart of the scheme and is the reason it is applied for so widely. Remember the pair of numbers, Rs 10 lakh as the project and Rs 5 lakh as the subsidy, and do not confuse the Rs 10 lakh project with the Rs 4 lakh education loan of the Student Credit Card.
Read the full article: Major Schemes of Bihar: Saat Nischay, Jeevika and PYQs
Practice Questions
View allThe Saat Nischay, or seven resolves, programme began to be implemented in Bihar in which year?
- A.2006
- B.2011
- C.2016
- D.2021
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The seven resolves were announced as a programme of government in 2015 and were taken up for implementation from 2016, each resolve carrying its own schemes with budget provision: work for the youth, reservation for women in government jobs, electricity, piped drinking water, paved lanes and drains, toilets in every…
Read the full explanation →Which resolve of the Saat Nischay programme is known as Har Ghar Nal Ka Jal?
- A.Piped drinking water to every household
- B.Electricity to every household
- C.A toilet in every house
- D.A paved lane in front of every house
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Har Ghar Nal Ka Jal is the resolve to take piped drinking water to every household, carried out by the Public Health Engineering Department in the towns and larger habitations and through the panchayats in the villages, and it had a special importance in Bihar because of arsenic, fluoride and…
Read the full explanation →Under the Bihar Student Credit Card Yojana, what is the maximum education loan a student can get?
- A.Rs 1 lakh
- B.Rs 2 lakh
- C.Rs 4 lakh
- D.Rs 10 lakh
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The Bihar Student Credit Card Yojana, part of the first of the seven resolves, offers a loan of up to Rs 4 lakh for higher education after the intermediate, the state guaranteeing the loan through the Bihar State Education Finance Corporation so that a student without security can borrow for…
Read the full explanation →Under the Bihar Student Credit Card Yojana, the rate of simple interest charged to a woman applicant is:
- A.One per cent
- B.Four per cent
- C.Seven per cent
- D.Nine per cent
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The scheme charges simple interest of four per cent in general, and only one per cent to women applicants, to transgender applicants and to the differently abled, a concession meant to push up the enrolment of girls in higher education.
Read the full explanation →The Kushal Yuva Program of Bihar gives training mainly in:
- A.Tractor repair and welding
- B.Communication skills, behavioural skills and basic computer use
- C.Organic farming
- D.Weaving and handicraft
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The Kushal Yuva Program, run at Kushal Yuva Kendras under the first of the seven resolves, trains young people who have passed at least Class 10 in life skills and behaviour, in spoken and written communication in Hindi and English, and in the use of a computer, so that they…
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