2023 GS3 MAINS PYQ SOLVED

1. Faster economic growth requires increased share of the manufacturing sector in GDP, particularly of MSMEs. Comment on the present policies of the Government in this regard.

Introduction

A higher share of manufacturing, particularly from Micro, Small, and Medium Enterprises (MSMEs), is crucial for faster economic growth and job creation. MSMEs currently contribute 30% of GDP and 45% of exports, but there is potential for more.

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1.Present Policies to Boost Manufacturing and MSMEs

i.Production Linked Incentive (PLI) Scheme: Incentivizes manufacturing in sectors like electronics, pharmaceuticals, and textiles. Example: PLI for electronics manufacturing attracted investments of over ₹3,000 crore in 2022.

ii.Atmanirbhar Bharat Abhiyan: Focus on local manufacturing and reduced import dependency. Example: ₹20,000 crore fund of funds supports MSME growth.

iii.Credit Support:

Emergency Credit Line Guarantee Scheme (ECLGS) provides collateral-free loans to MSMEs.

MainsPYQSolved - gs 3

1. Faster economic growth requires increased share of the manufacturing sector in GDP, particularly of MSMEs. Comment on the present policies of the Government in this regard.

Introduction

Body