On the occasion of second anniversary of the Prime Minister Street Vendor’s…
2021
On the occasion of second anniversary of the Prime Minister Street Vendor’s AtmaNirbharNidhi (PM SVANidhi) scheme, the Housing and Urban Affairs Minister, Hardeep Singh Puri launched the ‘SVANIdhiMahotsav’.
Identify Incorrect statement regarding the scheme-
(i) Ministry of Housing & Urban Affairs launched a scheme PM Street Vendor's AtmaNirbharNidhi (PM SVANidhi)
(ii) The vendors, availing loan under the scheme, are eligible to get an interest subsidy @5%.
(iii) The scheme is a Central Sector Scheme
- A.
Only (i)
- B.
Only (ii)
- C.
Only (iii)
- D.
Both (i) & (ii)
- E.
Both (i) & (iii)
Attempted by 3 students.
Show answer & explanation
Correct answer: B
Concept
This is a "pick the incorrect statement" item, so the right choice is the one that names the FALSE statement(s). The governing facts of the PM SVANidhi (PM Street Vendor's AtmaNirbhar Nidhi) scheme are: it is a Central Sector Scheme administered by the Ministry of Housing & Urban Affairs, launched in June 2020 to give collateral-free working-capital micro-loans to street vendors, and on timely repayment the borrower earns an interest subsidy of 7% per annum, credited quarterly.
Application — test each statement
Statement (i): The Ministry of Housing & Urban Affairs launched PM SVANidhi — this matches the scheme's launching ministry, so the statement is TRUE.
Statement (ii): "interest subsidy @5%" — the scheme's interest subsidy is 7% per annum, not 5%, so this statement is FALSE.
Statement (iii): PM SVANidhi is a Central Sector Scheme (100% centrally funded) — this is TRUE.
Result
Exactly one statement is false — the @5% subsidy claim, i.e. statement (ii). Since the question asks for the incorrect statement, the answer is "Only (ii)".
Cross-check
If you instead mark (i) or (iii) as incorrect, you would be rejecting two verified true facts (the launching ministry and the Central Sector classification), which contradicts the scheme's official description; only the 7%-vs-5% subsidy figure is actually wrong, confirming Only (ii).