How can developing small scale industries help in alleviating poverty? – InterviewSolution

InterviewSolution

1.	How can developing small scale industries help in alleviating poverty?
Answer» In India, small and cottage industries immensely contribute in gross national income and employment. So, if small and cottage industries can be developed and encouraged then poverty can be reduced on a larger scale. Favourable environment, reducing controls, making available raw material, providing loans and technology and market to sell final goods are few developmental activities that the government should undertake. Recently on 8th April, 2015 Indian government has established MUDRA (Micro Unit Development and Refinance Agency Ltd.) to provide loans to micro and small units. The government has also started ‘Start-up India’ scheme from 16th January, 2016.The objective of this scheme is to encourage entrepreneurship, provide loans to new ventures and increase employment opportunities.

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