Government Initiatives for Business Development – Business Management Ethics and Entrepreneurship Notes

Start Up India Government Initiatives:
1. The Ministry of skill Development and entrepreneurship aim to skill on a large scale with speed and high standards in order to achieve its vision of a skilled India.

2. It is aided in these initiatives by its functional arms:

  • NSDA → National Skill Development Agency
  • NSDC → National Skill Development Corporation
  • NSDF → National Skill Development Fund
  • SSCS → 33 Sector Skill Councils

It also has 187 training partners registered with NSDC.

National Skill Development Agency (NSDA):

  1. It is an autonomous body which was created with the mandate to co-ordinate and harmonise the skill development activities in the country.
  2. It is a part of the Ministry of Skill Develdpment and Entrepreneurship (MSDE).

The philosophy of NSDC is based on the following:

  1. Create: Proactively catalyse creation of large, quantity vocational training institutions.
  2. Funds: Reduce risk by proyiding patient capital including grants and equity.
  3. Enable: The creation and sustainability of support system required for shall development.

Objectives of NSDC:

  1. Upgrade skills to international standards.
  2. Enhance, support and co-ordinate private sector initiative.
  3. Play the role of “market-maker”
  4. Prioritize initiative that can have a multiplier or catalytic effect.

Partnerships:
NSDC operates through partnerships with multiple stakeholders in catalysing and evolving the skilling ecosystem.

  • Private Sector
  • International Engagement
  • Central Ministries
  • State Government
  • University/ School System
  • Non-profit organisations
  • Innovations

Achievements:

  • Over 5.2 million students trained.
  • 235 private sector partnerships for training and capacity building.
  • 38 sector skill councils CSSC approved in services, manufacturing, agriculture and allied services and informal sectors.
  • 1386 Qualification Packs with 6,744 unique National Occupational Standards (NOS)
  • Vocational training introduced in to states, covering 2400+ schools, 2 Boards, benefjtting over 2.5 lakhs students.
  • Designated implementation agency for largest voucher-based skill development program, Pradhan Mantri Kaushal Vikas Yojana.
  • Skill development Management System with 1400 partners, 28179 training centres, 16479 trainers, 20 job portals, 77 assessment agencies and 49863 empanelled assessors.
  • Hosting infrastructure certified by ISO 20,000/27,000 supported by dedicated personnel.

Start Up India –

Introduction:
A Start up is a company that is in the first stage of its operations.
These companies are often initially bank rolled by their entrepreneurial founder as they attempt to capitalize on developing a product or service

“Is searching for answers to the product it will sell, the customers it will serve and the way it will make money from delivering value to its customers”

Latest Policy Initiatives for Start-ups Ease of doing Business:

  • To simplify the regulatory framework, the government introduced the lease of doing business wherein an MSMF unit has to fill in a single one page self-declaration online form called – Udyog Aadhaar
  • The Apprentices Act, 1961 was amended to enable even the MSMF unit engage apprentices which will enable the units to get trained labours as well as in turn supply skilled labour.
  • To give boost to the make India programme, MSME Ministry has launched the ASPIRE Scheme in March 2015, a scheme for promotion of innovation, Rural industry and entrepreneurship.

Atal Innovation Mission (AIM):
This programme operated from NITI Aayog is about an Innovation Promotion Platform involving academics, entrepreneurship and research and draw upon national and international experience to foster a culture of innovation, R&D and scientific research in India.

SETU (Self Employment and Talent Utilization)
SETU meaning bridge in Hindi is a Techno Financial, Incubation and Facilitation Programme to support all aspects of start up businesses and other self-employment activities, particularly in technology driven areas operated from NITI Aayog.

The expert committee has identified five major drivers for creating a vibrant entrepreneurial eco-system.

  • Catalytic government policy and regulatory framework.
  • Easy access to equity capital and debt.
  • Businesses as entrepreneurial hubs.
  • Culture and institutions which encourage entrepreneurship over careerism.
  • Adequate and effective collaboration forums.

Start Up India:

  • The stand-up India Scheme provides loans to entrepreneurs of the , Scheduled Caste as well as women.
  • The loans range from ₹ 10 lakh to ₹ 1 crore.
  • The scheme helps them out by facilitating loans for non-farm sector entrepreneurship.

Eligibility:

  • SC/ST and /or women entrepreneur, above 18 years of age.
  • Loans under the scheme is available for only green field project.
  • In case of non-individual enterprise, 51% of the shareholding and controlling stake should be held by either SC/ST and or women Entrepreneur.
  • Borrower should not be in default to any bank/financial institution.
  • The product must be related to commercialisation.
  • The age of company must not exceed 5 years
  • Certification from DIPP.

Government Initiatives for Business Development MCQ Questions

1. Which ministry is responsible for co-ordination of all skill development efforts across the country?
(a) Ministry of finance
(b) Ministry of skill development and Entrepreneurship
(c) Ministry of Corporate
(d) All of these
Answer:
(b) Ministry of skill development and Entrepreneurship

2. The functional arms of Ministry of Skill Development and Entrepreneurship are:
(a) National Skill Development Agency (NSDA)
(b) National Skill Development Corporation (NSDC)
(c) National Skill Development Fund (NSDF)
(d) All of these
Answer:
(d) All of these

3. NSDC is a unique model created with a well though underlying philosophy based on which pillars:
(a) Create
(b) Fund
(c) Both (a) and (b)
(d) None of these
Answer:
(c) Both (a) and (b)

4. National Skill Development Agency is based under which Act:
(a) Society’s Registration Act 1860
(b) Entrepreneurship Act, 1980
(c) Ministry Development Act, 1872
(d) Partnership Act, 1932
Answer:
(a) Society’s Registration Act 1860

5. NSDC operates through with multiple stakeholders in catalysing and evolving the skilling ecosystem.
(a) Partnership
(b) Good faith
(c) Mutual concern
(d) None of these
Answer:
(a) Partnership

6. The main objectives of the NSDC are to:
(a) Upgrade skills to international standards ‘
(b) Enhance, support and co-ordinate private sector initiatives
(c) Prioritize initiatives that can have a multiplier or catalytic effect
(d) All of these
Answer:
(d) All of these

7. Which of these functional arms play a role of a “market-maker” __________.
(a) NSDC
(b) NSDA
(c) NSDC
(d) MSDE
Answer:
(a) NSDC

8. NSDC operates through partnerships with __________.
(a) Private Sector
(b) Central Ministries
(c) State Government
(d) All of these
Answer:
(a) NSDC

9. For the ease of doing business the MSME unit has to fill in a single one page self-declaration online from called __________.
(a) Udyog Adhaar
(b) E-Adhaar
(c) Company Incorporation Form
(d) None of these
Answer:
(a) Udyog Adhaar

10. STAND UP INDIA scheme provides loans to entrepreneurs of:
(a) Schedule caste
(b) Schedule Tribe
(c) Women
(d) All of these
Answer:
(d) All of these

11. What is the meaning of term SETU in Hindu?
(a) Wheat
(b) Rice
(c) Bridge
(d) Pool
Answer:
(c) Bridge

12. A start up is a company that is in the stage of its operations __________.
(a) Early
(b) First
(c) Middle
(d) Slow
Answer:
(b) First

13. The key objectives of the AIM (Atal Innovation Mission) are __________.
(a) To create an umbrella structure
(b) To provide platform and collaboration
(c) To create awareness and provide knowledge
(d) All of these
Answer:
(d) All of these

14. To get a loan from stand up India Scheme, the age of the company should not exceed __________.
(a) 1 year
(b) 2 years
(c) 3 years
(d) 5 years
Answer:
(d) 5 years

15. Under the __________ 50 percent of stipend payable to apprentices would be reimbursed by the government for the first two years is an incentive for MSME units to take in more apprentices.
(a) Apprentice Protsahan Yojana
(b) Apprenticeship Act 1961
(c) Workmens Compensation Act
(d) None of the above
Answer:
(a) Apprentice Protsahan Yojana

16. The scheme launched by MSME Ministry in March 2015, for promotion of Innovation, Rural Industry and Entrepreneurship.
(a) Aspire scheme
(b) Mudra scheme
(c) Atal Innovation Mission
(d) All of the above
Answer:
(a) Aspire scheme

17. Businesses as entrepreneurial hubs is one of the major drivers identified by The expert committee on Innovation and Entrepreneurship Innovative start ups Incubation Policy None of the a __________.
Answer:
(a) The expert committee on Innovation and Entrepreneurship
(b) Innovative start ups
(c) Incubation Policy
(d) None of the above
Answer:
(a) The expert committee on Innovation and Entrepreneurship

18. In the World Bank’s Ease of Doing Business Ranking 2015 India is placed at __________.
(a) 154 place out of the total of 184 economies
(b) 142 place out of total of 189 economies
(c) 148 place out of total of 190 economies
(d) 146 place out of a total of 188 economies
Answer:
(b) 142 place out of total of 189 economies

19. Globally India Ranks in __________.
(a) 3rd position with 4200 startups
(b) 4th position with 4200 startups
(c) 2nd position with 4500 startups
(d) 5th position with 4800 startups
Answer:
(a) 3rd position with 4200 startups

20. The loans given to SC/ST and women Entrepreneurs under stand up India Scheme range from:
(a) ₹ 5 lakh to ₹ 1 crore
(b) ₹ 15 lakh to ₹ 1 crore
(c) ₹ 10 lakh to ₹ 1 crore
(d) ₹ 15 lakh to ₹ 2 crore
Answer:
(c) ₹ 10 lakh to ₹ 1 crore

21. Expansion of term SETU is __________.
(a) Self exchange and talent utilization
(b) Self exchange and trust utilization
(c) Self expert and team utilization
(d) Self Employment and talent utilization
Answer:
(d) Self Employment and talent utilization

22. To give boost to the make in India programme, the MSME Ministry launched __________.
(a) NDFC
(b) SBA
(c) SETU
(d) ASPIRE
Answer:
(d) ASPIRE

23. Which Ministry encourages skilled India?
(a) MSDC
(b) MSDE
(c) MDEI
(d) None of these
Answer:
(b) MSDE
MSDE: Ministry of skill Development and Entrepreneurship encourages skilled India.

24. Over 5.2 million students trained under __________.
(a) Start up India
(b) Grown up India
(c) From developing to developed Scheme
(d) Both (a) and (c)
Answer:
(a) Start up India
Start Up India: Government Initiative achievements are –

  • Over 5.2 million students trained
  • Designated implementation agency for the largest voucher-based

Skill Development Program, Pradhan Mantri Kaushal Vikas Yojna (PMKVY) etc

25. SMILE scheme of ₹ ________ has also been launched to catalyze.
(a) 10,000 crore
(b) 10,000 LK
(c) 1,000 Million
(d) None
Answer:
(a) 10,000 crore
A SIDBI make in India loan for small enterprises (SMILE) scheme of ₹ 10,000 crore has also been launched to catalyze tens of thousands of crores equity investment in start-ups and MSMES.

26. ASPIRE scheme was launched in __________.
(a) March, 2018
(b) March, 2014
(c) March, 2015
(d) March, 2013
Answer:
(c) March, 2015
To give boost to the make in India programme, the MSME Ministry has launched the ASPIRE scheme in March 2015, a scheme for promotion of innovation, rural industry and entrepreneurship.

27. Full form SIDBI:
(a) Structure Industries Development Bank of India
(b) Social Industries Development Bank of India
(c) Small Industries Development Bank of India
(d) None of these
Answer:
(c) Full form of SIDBI is Small Industrial Development Bank of India.

28. The loan given to SC/ST and women entrepreneur under standu scheme __________.
(a) 5 lack – 1 crore
(b) 10 lack – 1 crore
(c) 15 lack – 2 crores
(d) None
Answer:
(b) 10 lack – 1 crore
The stand up India scheme, provides loans to entrepreneurs of the Scheduled Caste and Scheduled Tribes, as well as women. The loan range from ₹ 10 lakh to ₹ 1 crore.

CS Foundation Business Management Ethics and Entrepreneurship Notes