Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsPOVERTY3 Marks
Question
How can developing small scale industries help in alleviating poverty?
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Answer
In India, small and cottage industries immensely contribute in gross national income and employment. So, if small and cottage industries can be developed and encouraged then poverty can be reduced on a larger scale.
Favourable environment, reducing controls, making available raw material, providing loans and technology and market to sell final goods are few developmental activities that the government should undertake.
Recently on $8th$ April, $2015$ Indian government has established $MUDRA ($Micro Unit Development and Refinance Agency Ltd.$)$ to provide loans to micro and small units.
The government has also started ‘Start-up India’ scheme from $16th$ January, $2016.$The objective of this scheme is to encourage entrepreneurship, provide loans to new ventures and increase employment opportunities.
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