“Under ‘Zero Defect, Zero Effect’ (ZED) scheme, the Government of India provides up to 80% subsidy to Micro, Small and Medium Enterprises (MSMEs).”
Identify and explain the objective of government budget. highlighted in the above text.
Ans. The highlighted objective of the government budget in the provided text is:
Promotion of Micro, Small, and Medium Enterprises (MSMEs) through Subsidies
Explanation:
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The government budget allocates funds for subsidies to support the growth and development of Micro, Small, and Medium Enterprises (MSMEs).
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The objective is to encourage MSMEs to adopt the ‘Zero Defect, Zero Effect’ (ZED) scheme by providing financial assistance in the form of subsidies.
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The subsidy, which covers up to 80% of the costs, aims to incentivize MSMEs to improve the quality of their products (Zero Defect) and minimize their environmental impact (Zero Effect).
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By providing financial support to MSMEs, the government aims to promote their competitiveness, enhance product quality, ensure environmental sustainability, and stimulate economic growth and employment generation in the MSME sector.
