Q. With reference to the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets (REPM), consider the following statements:
1.The Ministry of Science and Technology is the nodal ministry of the scheme.
2.The scheme provides sales-linked incentives to the manufacturers under the scheme.
Which of the statements given above is/are correct?
Answer: B
Notes:
Explanation: Only 2
Statement 1 is incorrect: The nodal ministry is the Ministry of Mines (with oversight from the Department of Atomic Energy and NITI Aayog).
Statement 2 is correct: Financial Outlay
- Total outlay: Rs 7,280 crore.
- Rs 6,450 crore as sales-linked incentives for five years.
- Rs 750 crore as capital subsidy for setting up 6,000 MTPA capacity.
Source: PIB
