Sonika, Monika and kanika- all the …
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Sonika, Monika and kanika- all the three after completing their studies, Engineering, MBA and M.com respectively, created a joint firm. Their objective was to do business in some such process/ commodity/service as might not be already in vogue. First of all, they established a strong Research and Development Department. In no time a new idea came into their minds.
They decided to produce such a writing material as was not already in vogue. They got their firm registered under the Government's new scheme, which had been announced to motivate the young Entrepreneurs. The Government granted them the necessary financial help. The production started, and their new product got the full co-operation from the market as quickly as possible. As a result, in the very first year, they got the turnover of RS. 20 Crores. Along with getting appropriate profit personally, they also provided employment to several people.
Related to the business discussed in the above paragraph answer the following questions.
(a) Under which new scheme of the Government this business might have been registered?
(b) When was the new scheme identified in point (a) first announced?
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