Tamilnadu State Board New Syllabus Samacheer Kalvi 12th Commerce Guide Pdf Chapter 25 Government Schemes for Entrepreneurial Development Text Book Back Questions and Answers, Notes.
Tamilnadu Samacheer Kalvi 12th Commerce Solutions Chapter 25 Government Schemes for Entrepreneurial Development
12th Commerce Guide Government Schemes for Entrepreneurial Development Text Book Back Questions and Answers
I. Choose the Correct Answers
Question 1.
The …………………… initiative was launched to modernize the Indian economy to make all governments services available electronically.
a) Standup India
b) Startup India
c) Digital India
d) Make in India
Answer:
c) Digital India
Question 2.
………………………………………. is designed to transform India to a global design and manufacturing hub.
a) Digital India
b) Make in India
c) Startup India
d) Design India
Answer:
b) Make in India
Question 3.
……………… is the Government of India’s endeavour to promote culture of innovation and entrepreneurship. ‘
a) AIM
b) STEP
c) SEED
d) AIC
Answer:
a) AIM
Question 4.
………….. should cover aspects like sources of finance, technical know-how, source of labour and raw material, market potential and profitability.
a) Technical Report
b) Finance Report
c) Project Report
d) Progress Report
Answer:
c) Project Report
Question 5.
………………………………….. has to include the mechanism for managing venture in the project report.
a) Banker
b) Government
c) Lending Institutions
d) Entrepreneur
Answer:
d) Entrepreneur
II. Very Short Answer Questions
Question 1.
Name any four Governmental Entrepreneurial schemes.
Answer:
Through the Startup India initiative, the Government of India promotes entrepreneurship by mentoring, nurturing, and facilitating startups throughout their life cycle. Modified Special Incentive Package Scheme (M-SIPS), New Gen Innovation and Entrepreneurship Development Centre (New Gen IEDC), Dairy Entrepreneurship Development Scheme, and Single Point Registration Scheme (SPRS) are some of the Governmental Entrepreneurial schemes.
Question 2.
Give a note on ‘Digital India’.
Answer:
The Digital India initiative has been launched to modernize the Indian Economy to make all Government Services action) available Electronically. (Paperless transactions)
Question 3.
List down the two types of finance.
Answer:
Entrepreneurial development schemes of Government of Tamil Nadu:
- Micro, small and medium enterprises (MSMEs)
- New Entrepreneur-Cum-Enterprise Development Scheme (NEEDS)
- Self-Help Group (SHG)
III. Short Answer Questions
Question 1.
What is “Startup India?
Answer:
Through the Startup India initiative, the Government of India promotes entrepreneurship by mentoring, nurturing and facilitating startups throughout their life cycle.
Question 2.
Expand the following: STEP, JAM, TREAD, M-SIPS, SEED and New Gen IEDC
Answer:
- STEP – Support to Training and Employment Programme (For women)
- JAM – Jandhan Aadhaar Mobile
- TREAD – Trade Related Entrepreneurship Assistance and Development.
- M – SIPS – Modified Special Incentive Package Scheme
- SEED – Science for Equity Empowerment and Development.
- New Gen IEDC – New Gen. Innovation and Entrepreneurship Development Centre.
Question 3.
Write a short note on the following
a) Dairy Entrepreneurship development scheme
b) Project report.
Answer:
(a) Dairy Entrepreneurship Development Scheme: Dairy Entrepreneurship Development Scheme aims at helping entrepreneurs in the field of Agriculture, pets, and animals.
(b) Project Report: Project reports need to be prepared according to the format prescribed in the loan application form of term lending institutions.
IV. Long Answer Questions
Question 1.
Explain any five government entrepreneurial schemes.
Answer:
Startup India:
- Through the “start-up” India initiative, the Indian government promotes Entrepreneurship by mentoring, nurturing, and facilitating startups throughout their life cycle
- It was launched in January 2016, the initiative has successfully given a head start to numerous aspiring entrepreneurs
- A fund of funds has been created to help startups gain access to funding
Stand up India:
- It was launched in 2015, standup India seeks to leverage institutional credit for the benefit of India’s under privileged
- It aims at enabling economic participation of, women entrepreneurs, scheduled castes, and scheduled tribes and shares the benefit of Indian growth with the above-mentioned categories
Make in India:
- This scheme is designed to transform India into a global design and manufacturing hub
- This initiative was launched in September 2014
- It came as a powerful call to Indian citizens and business leaders and an invitation to potential partners and investors around the world to centralize information about opportunities in India’s manufacturing sector.
- This has in turn helped procure investments, foster innovation, develop skills and build best in class manufacturing infrastructure.
Digital India:
- The digital India initiative has been launched to modernize the Indian economy to make all government services available electronically, [paper less transaction]
Jandhan Aadhaar Mobile [JAM] - JAM for the first time is a technological intervention that enables direct transfer of subsides to intended beneficiaries and eliminates all intermediaries and leakages in the system which has a potential impact on the lives of millions of Indian citizens.
Atal Innovation Mission:
AIM is the Indian government’s endeavour to promote a culture of innovation and entrepreneurship, and it serves as a platform for the promotion of world-class innovation hubs,
Modified special incentive package scheme: [M-SIPS]
The M-SIPS provides capital subsidy of 20% in special economic zone [SEZ] and 25% subsidy in non SEZ for business units engaged in the fields of aeronautics aerospace Defence, green technology, nanotechnology and so on.
Question 2.
Describe the steps promoting an Entrepreneurial venture.
Answer:
Steps for promoting entrepreneurial venture:
- Selection of the product: An entrepreneur may select a product according to his capacity and motivation after a thorough scrutiny of the micro and macro environment of business.
- Selection of form of ownership: The entrepreneur has to choose the form of organization suitable and appropriate for his venture namely family ownership, partnership, and private company.
- Selection of site: The entrepreneur has to choose a suitable plot for starting his venture. The plot may be an industrial site, land by the private people, or a housing board plot allotted.
- Designing capital structure: The entrepreneurs have to determine the source of finance for funding the venture. It may be own savings, a loan from friends, relatives, or a loan from banks.
- Acquisition of Manufacturing know-how: Entrepreneur can acquire manufacturing know-how from government research laboratories and industrial consultants.
- Preparation of project report: Project reports need to be prepared according to the format prescribed in the loan application forms.
12th Commerce Guide Government Schemes for Entrepreneurial Development Additional Important Questions and Answers
I. Choose the Correct Answers
Question 1.
Atal Incubation centres were launched in the year ………………
a) 2014
b) 2015
c) 2016
d) 2017
Answer:
c) 2016
Question 2.
NSDM was launched in …………….
a) April -2015
b) May – 2015
c) June – 2015
d) July – 2015
Answer:
d) July – 2015
Question 3.
Make in India initiative was launched in …………
a) September – 2014
b) September – 2015
c) September – 2016
d) September 2017
Answer:
a) September – 2014
Question 4.
Project Report prepared by ………..
a) Auditor
b) Consultants
c) Development Agencies
d) Any one of the above
Answer:
d) Any one of the above
Question 5.
Pick the odd one out:
a) Make in India
b) Khelo India
c) Digital India
d) Stand – up India
Answer:
b) Khelo India
Question 6.
Pick the odd one out:
a) NKDM
b) SPRS
c) M – SIPS
d) PSU
Answer:
d) PSU
Question 7.
An entrepreneur has to apply for ………..
a) Power connection
b) Statutory License
c) Permanent Registration Certificate
d) All of these
Answer:
d) All of these
Question 8.
8. NEEDS initiative was launched by …………….. Government.
a) Central
b) State
c) Both
d) All of these
Answer:
b) State
II. Match the following.
Question 1.
|
List-I |
List-II |
| i. Startup India | 1. Global Design |
| ii. Stand-up India | 2. Electronical India |
| iii. Make in India | 3. Fund of funds |
| iv. Digital India | 4. SC/ST women |
a) i-3, ii-4, iii-1, iv-2
b) i-4, ii-3 iii-2, iv-1
c) i-2, ii-1, iii-4, iv-3
d) i-4, ii-3, iii-1, iv-2
Answer:
a) i-3, ii-4, iii-1, iv-2
Question 2.
|
List-I |
List-II |
| i. STEP | 1. Motivated Scientists |
| ii. SEED | 2. Pathways for women |
| iii. JAM | 3. Formal Skill Training |
| iv. TREAD | 4. Direct transfer of subsidies |
a) i-3, ii-1, iii-4, iv-2
c) i-2, ii-4, iii-1, iv-3
b) i-4, ii-3 iii-2, iv-1
d) i-1, ii-2, iii-3, iv-4
Answer:
a) i-3, ii-1, iii-4, iv-2
III. Assertion and Reason
Question 1.
Assertion (A): The entrepreneur has to apply for a provisional registration certificate.
Reason (R): It will be issued for a period of one year subject to renewal of two periods of six months duration.
a) Both (A) and (R) are correct. (R) is the correct explanation of (A)
b) Both (A) and (R) are correct. (R) is not the correct explanation of (A)
c) (A) is correct (R) is incorrect
d) (A) is incorrect (R) is correct
Answer:
a) Both (A) and (R) are correct. (R) is the correct explanation of (A)
IV. Short Answer Questions.
Question 1.
What is meant by SEED?
Answer:
SEED (Science for Empowerment and Development) aims to provide opportunities to motivated scientists and field-level workers to undertake action-oriented, location-specific projects for socio-economic gains, in rural areas. The benefits of technology reach a vast section of the population.
Question 2.
Mention the time period of the Provision Registration Certificate.
Answer:
It will be issued to entrepreneur after the fulfillment of certain conditions for a period of one year subject to renewal of two periods of one year subject to renewal of two periods of six months duration.
Question 3.
What is the procedure for getting a power connection for an Entrepreneurial venture?
Answer:
Entrepreneur has to make applications to Assistant Divisional Engineer of State EB for power connection after paying Security Deposit and Fulfilling the official formalities prescribed.
V. Long Answer Questions.
Question 1.
Write Short notes on the following:
a) New Gen IEDC
b) PMKVY
c) AIC
d) SEED
e) TREAD
f) NSDM
g) STEP
h) SPRS
Answer:
a) New Gen. Innovation Entrepreneurship Development Centre :
It provides a limited one-time, non – recurring financial assistance to entrepreneurs upto ₹25 lakhs in the fields of chemicals – Health care – Aeronautics – Agriculture – communications – Nano Technology, etc.
b) Pradhan Mantri Kaushal Vikas Yojana:
- It is an initiative of MSDE
- This is a skill certification initiative.
- Its aim is to train youth and enhance employment opportunities.
c) Atal Incubation centers.
- It was set up in 2016 at NITIAAYOG with the overarching purpose of promoting a culture of innovation & entrepreneurship in the country.
- It provides high class incubation facilities in terms of capital equipment – monitoring startups – Transport – Health etc.
d) Science for Equity Empowerment and Development:
SEED aims to provide opportunities to motivated scientists and field-level workers to undertake action-oriented, location-specific projects for socio-economic gain, particularly in rural areas.
e) Trade Related Entrepreneurship Assistance and development.
- This scheme envisages addressing the critical issues of access to credit among India’s unprivileged women, it enables credit availability to interested women through NGOs.
f) national Skill Development Mission:
- It was set up in July 2015
- With a vision to build “Skilled India”
- Its aim is to build synergies across the sectors in terms of skill training activities.
g) Support to Training and Employment Programme (for women)
- STEP was launched to train those who have access to formal skill training facilities, especially in Rural India.
- It imparts skills in several sectors such as Agriculture – Horticulture – Food processing – Tourism – Hospitality, etc.
h) Single point Registration Scheme:
- A great scheme for micro and Small Enterprises, which provides an exemption of EMD.
- Under this scheme, the tenders are issued free of cost.
Question 2.
Discuss the preparation of the project.
Answer:
- Project reports need to be prepared according to the format prescribed in the loan application form of term lending institutions.
- It can get prepared either by technical consultancy or Auditors or consultants or by development agencies.
- It should cover aspects like sources of finance, Labour, raw materials, technical know-how, market potential, and profitability.
It includes the following:
Technical feasibility:
- Availability of water- power-transport- raw materials- communications
- Quality control measures and manufacturing process Economic Viability:
- It essentially involves compilation of demand for domestic and export market, installed capacity of machines, market share, revenue expected and suitable price structure.
Financial Viability:
Non- recurring cost – land & buildings, plants machinery
- Recurring expenses- Wages, salaries, overheads, etc.
- The probable cost of production and profit and expected sales.
Managerial competency:
- In small size ventures – The owner or partners may take care of managerial activities.
- Incorporate venture – A team of managerial personnel manage the managerial activity.
Provisional Registration Certificate:
It will be issued after the fulfillment of certain conditions for a period of one year subject to renewal of two periods of six months duration.
Permanent Registration Certificate:
Once the venture has commenced or ready to commence production it is eligible to get permanent registration certificate.
Statutory License:
He has to obtain a municipal license from the authority concerned.
Power connection:
He has to make an application to A.D.E of E.B for power connection.
Arrangement of Finance:
- Long Term Finance – Needed for acquiring Fixed Assets
- Short Term Finance – Meant for meeting working capital needs
LESSON IN A NUTSHELL
Various Schemes
- Startup India
- Stand up India
- Make in India
- Digital India
- Jandhan Aadhaar Mobile (JAM)
- Atal Innovation Mission (AIM)
- New Gen. Innovation and Entrepreneurship Development Centre (New Gen IEDC)
- PMKVY – Pradhan Mantri Kaushal Vikas Yojana
- AIC – Atal Incubation Centres
- SEED – Science for Equity Empowerment Development.
- TREAD – Trade Related Entrepreneurship Assistance and Development.
- NSDM – National Skill Development Mission.
- STEP – Support to Training and Employment Programme (For women)
- SPRS – Single point Registration Scheme
- M – SIPS – Modified Special Incentive Package Scheme
- DEDS – Dairy Entrepreneurship Development Scheme.