New Enroll for RBI, PFRDA & NABARD Intro Class! April 18 at 9:15 PM

    Question

    Please read the following passage and answer the following questions ( Q no15 to 18) based on the passage. Upskilling unorganized workers in India is essential to harness the potential of a vast and often underutilized section of the labor force. The unorganized sector, which includes daily wage laborers, street vendors, domestic workers, agricultural laborers, and others, constitutes nearly 90% of India's workforce. Despite its size, this sector faces numerous challenges, including low wages, lack of social security, and limited access to formal education or training. Upskilling these workers is crucial to improving their livelihoods, increasing their productivity, and fostering inclusive economic growth. One of the key reasons for upskilling unorganized workers is to enhance their employability and income-earning potential. Most workers in this sector have limited access to formal education and skill development programs, which confines them to low-paying, labor-intensive jobs. By providing training in relevant skills, such as digital literacy, technical expertise, or even soft skills like communication and problem-solving, workers can transition to better-paying jobs or start small businesses. This can help them break the cycle of poverty and contribute to the overall economic progress of the country. Another critical benefit of upskilling is the improvement in job security and working conditions. Many workers in the unorganized sector lack access to stable employment and are often exposed to unsafe working environments. With proper skills training, they can acquire specialized knowledge that makes them more competitive in the job market, enabling them to negotiate better wages and conditions. Additionally, upskilled workers are more likely to find employment in industries that provide social security benefits and adhere to labor laws, leading to an improvement in their overall quality of life.

    What types of financial support are provided under the

    PM Vishwakarma Scheme?
    A Interest-free loans, credit guarantee, and skill training Correct Answer Incorrect Answer
    B Direct cash transfers, scholarships, and housing subsidies Correct Answer Incorrect Answer
    C Tax exemptions, export incentives, and marketing assistance Correct Answer Incorrect Answer
    D Free healthcare, insurance coverage, and pension benefits Correct Answer Incorrect Answer
    E Land allotment, agricultural inputs, and irrigation facilities Correct Answer Incorrect Answer

    Solution

    The scheme provides financial assistance in the form of interest-free loans, credit guarantee to facilitate access to credit, and skill development programs to enhance the capabilities of artisans.

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