Consider the following statements about the ASPIRE Fund:

  1. It has been launched by NABARD
  2. It aims to promote rural entrepreneurship and agro industry in India

  Which of the above statements is/are correct?

Answer: [B] 2 Only

First statement is incorrect because the fund has been launched by Small Industries Development Fund of India (SIDBI). The ASPIRE Fund is a major initiative by the ministry of Ministry of Micro, Small and Medium Enterprises (MSME). ASPIRE means a scheme for promotion of innovation and rural entrepreneurship and Agro Industry. SIDBI aims to support various start ups in agricultural and rural areas with the help of Venture Capital Funds.

This question is a part of GKToday's Integrated IAS General Studies Module