Mathematics · Financial Word Problems
A potential beneficiary approaches a bank for a loan to start a fish retail outlet under the Pradhan Mantri Matsya Sampada Yojana (PMMSY). The total unit cost for the retail outlet is 10 lakh rupees. The beneficiary belongs to the 'Other' (General Male) category. Given the guidelines for PMMSY, what is the correct financial structure of the project?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1PMMSY does not provide subsidies for retail outlets; it is only for fish farming.
- 2The beneficiary gets a 1.5 lakh subsidy (15%) as it is a retail business under PMEGP.
- 3The beneficiary gets a 6 lakh subsidy, contributes 1.5 lakh, and the bank loans 2.5 lakh.
- 4The beneficiary gets a 4 lakh subsidy, contributes 1 lakh (10%), and the bank loans 5 lakh.✓
Correct answer
The beneficiary gets a 4 lakh subsidy, contributes 1 lakh (10%), and the bank loans 5 lakh.
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