Students get through the TN Board 12th Commerce Important Questions Chapter 25 Government Schemes for Entrepreneurial Development which is useful for their exam preparation.

TN State Board 12th Commerce Important Questions Chapter 25 Government Schemes for Entrepreneurial Development

Very short answer questions

Question 1.
What is the provision given to set up enterprises for entrepreneurs?
Answer:
Financial assistance, Insurance, subsidy, training helps early-stage technology startup and business loans, the special incentive is provided to set up new enterprises for entrepreneurs.

Question 2.
Give a note on making in India.
Answer:
This scheme is designed to transform India into a global design and manufacturing hub, the make in India initiative was launched in September 2014. This has helped procure investment, foster innovation develops skills, protect intellectual property and build best-in-class manufacturing infrastructure.

TN Board 12th Commerce Important Questions Chapter 25 Government Schemes for Entrepreneurial Development

Question 3.
Mention a few efforts at promoting entrepreneurship by the Government of India.
Answer:

  1. Startup India
  2. Make in India
  3. Atal Innovation Mission
  4. Support to Training and Employment Program for Women
  5. Jan Dhan – Aadhaar
  6. Digital India
  7. Standup India

Question 4.
What is the main aim of Standup India?
Answer:
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. At least women and one individual from the SC or ST communities is granted loans between 10 lakhs to 1 crore to set up greenfield enterprises in manufacturing, services, or the trading sector.

Question 5.
List out the steps in promoting an entrepreneurial venture.
Answer:

  1. Selection of the product
  2. Selection of the form of ownership
  3. Selection of site
  4. Designing capital structure
  5. Acquisition of manufacturing know-how
  6. Preparation of project report

Question 6.
How to select a suitable site for his / her venture?
Answer:

  1. Nearness to native place
  2. The incentive provided by the Government
  3. Nearness to Market
  4. Infrastructure Facilities
  5. Availability of labor and Raw materials in a particular area.

TN Board 12th Commerce Important Questions Chapter 25 Government Schemes for Entrepreneurial Development

Question 7.
What are the aspects the projects report covers?
Answer:

  1. Sources of finance
  2. Raw materials
  3. Market potential
  4. Profitability

Question 8.
How to get a statutory license?
Answer:
The entrepreneur has to obtain Municipal License from the authority concerned. Then the entrepreneur has to the registrar the unit with the Central and State Tax Department.

Short answer questions

Question 1.
What is stand-up India?
Answer:

  1. It was launched in 2015, standup India seeks to leverage Institutional credit for the benefit of India’s underprivileged.
  2. It aims at enabling economic participation of women entrepreneurs scheduled castes and scheduled tribes (SC and ST).
  3. To share the benefits of Indian growth (SC / ST).
  4. Granting a loan to one woman and one individual between 10 lakhs and 1 crore to set up greenfield enterprises in the manufacturing or service or trading sector.

TN Board 12th Commerce Important Questions Chapter 25 Government Schemes for Entrepreneurial Development

Question 2.
Write a note on the following.
Answer:

  1. Pradhan Mantra Kaushal Vikas Yojana (PMKVY): A flagship initiative of the Ministry of Skill Development and Entrepreneurship.
  2. This is a skill certificate initiative which aims to train youth in industry-relevant skill to enhance employment opportunities for livelihood creation and employability.
  3. Science for Equity Empowerment and Development (SEED):
    (a) SEED aims to provide opportunities to motivated scientists.
    (b) It should cover field-level workers to undertake action-oriented location-specific projects for socio-economic gain, particularly in rural areas.
    (c) SEED emphasizes equity in development so that the benefits of technology accrue to a vast section of the population particularly the disadvantaged.

Question 3.
Explain about Jan Dhan – Aadhaar – Mobile.
Answer:

  1. JAM for the first time is a technological intervention that enables the direct transfer of subsidies to intended beneficiaries.
  2. Therefore eliminates all intermediaries and leakages in the system which has a potential impact on the lives of millions of Indian citizens.

Long answer questions

Question 1.
Explain India’s efforts at promoting entrepreneurship and innovations.
Answer:
Startup India: Though the startup India Initiative, the Government of India promotes entrepreneurship by mentoring nurturing and facilitating startups throughout their life cycle. A fund to funds has been created to help startups gain access to funding.
Make in India: This scheme is designed to transform India into a global design and manufacturing hub, the make in India initiative was launched in September 2014.
Atal Innovation Mission: AIM is the Government of India’s endeavor to promote a culture of innovation and entrepreneurship and it serves as a platform for the promotion of world-class innovation Hubs Grand challenges, startup business.
Support to Training Employment Program for Women: STEP was launched by the Government of India’s Ministry of Women and Child Development to train women who have access to all skill training facilities especially in rural India.
Jan Dhan – Aadhaar – Mobile: JAM for the first time, is a technological intervention that enables direct transfer of subsidies to intended beneficiaries and therefore, eliminates all intermediaries and leakages in the system, which has a potential impact on the lives of millions of Indian citizens.

TN Board 12th Commerce Important Questions Chapter 25 Government Schemes for Entrepreneurial Development

Question 2.
Why Government of India support innovation and entrepreneurship in India?
Answer:

  1. The Government of India has undertaken several initiatives and instituted policy measures to foster a culture of innovation and entrepreneurship in the country.
  2. Job creation is a foremost challenge facing India.
  3. With a significant and unique demographic advantage, India has immense potential to innovate raise entrepreneurs, and create jobs for the benefit of the nation and the world.
  4. A wide spectrum of new programs and opportunities to nurture innovation has been created by the Government of India across a number of sectors agriculture, chemicals and fertilizers, finance, commerce and Industry Corporate Affairs, and Technology, etc.

Multiple-choice questions

1. To raise the potential of entrepreneur and create jobs for the benefits of the nation through:
(a) Innovation
(b) Schemes
(c) Programmes
(d) Training
Answer:
(a) Innovation

2. In which year make in India initiative was launched:
(a) 2016
(b) 2013
(c) 2014
(d) 2010
Answer:
(c) 2014

TN Board 12th Commerce Important Questions Chapter 25 Government Schemes for Entrepreneurial Development

3. The schemes that are designed to transform India into a global design:
(a) Make in India
(b) Digital India
(c) Standup India
(d) None
Answer:
(a) Make in India

4. It serves as a platform for the promotion of world-class innovation hubs and technology:
(a) Jandhan – Aadhaar – Mobile
(b) ATAL innovation mission
(c) National skill development mission
(d) Make in India
Answer:
(b) ATAL innovation mission

5. Which ministry trains women in rural India?
(a) Skill development and entrepreneurship
(b) National skill development mission
(c) Women and child development
(d) All the above
Answer:
(c) Women and child development

6. Transforming India into a digitally empowered society is known as:
(a) Make in India
(b) Digital India
(c) Stand up India
(d) Startup India
Answer:
(b) Digital India

7. In which year stand up India launches credit for India’s underprivileged and women entrepreneurs:
(a) 2010
(b) 2012
(c) 2014
(d) 2015
Answer:
(d) 2015

TN Board 12th Commerce Important Questions Chapter 25 Government Schemes for Entrepreneurial Development

8. ……… aims to provide opportunities to the motivated scientist.
(a) Science for Equity Empowerment and Development (SEED)
(b) National skill development
(c) JanDhan – Aadhaar
(d) None
Answer:
(a) Science for Equity Empowerment and Development (SEED)

9. ……….. has been set up to provide high-class incubation facilities across various parts of India.
(a) Dairy entrepreneurship development scheme
(b) ATAL incubation centres
(c) Single point registration scheme
(d) ATAL innovation mission
Answer:
(b) ATAL incubation centres

10. How entrepreneurs may select a product?
(a) Aspiration
(b) Capacity
(c) Motivation
(d) All the above
Answer:
(d) All the above

11. Entrepreneurs requires finance namely:
(a) Long term
(b) Short term
(c) Both (a) and (b)
(d) None
Answer:
(c) Both (a) and (b)

12. An entrepreneur can get the report prepared by:
(a) Auditors
(b) Development agencies
(c) Consultants
(d) All the above
Answer:
(d) All the above

TN Board 12th Commerce Important Questions Chapter 25 Government Schemes for Entrepreneurial Development

13. To train the youth in relevant skills to enhance employment for a livelihood is known as:
(a) Pradhan Mantri Kaushal Vikas Yojana (PMKVY)
(b) SEED
(c) TREAD
(d) STEP
Answer:
(a) Pradhan Mantri Kaushal Vikas Yojana (PMKVY)

14. Find out schemes to access credit among India’s underprivileged women:
(a) TREAD
(b) PMKVY
(c) SEED
(d) M-SIPS
Answer:
(a) TREAD

15. In which year national skill development mission was unveiled?
(a) 2000
(b) 2012
(c) 2010
(d) 2015
Answer:
(d) 2015