Nagaland CM Neiphiu Rio launched many different Economic Empowerment Initiatives

Current Context: On November 27, 2024, Nagaland Chief Minister Neiphiu Rio launched several economic empowerment initiatives in Kohima.

• These initiatives aim to boost Nagaland's tourism, transport, agriculture, and entrepreneurial sectors.
• Key programs include:
• Ura Cabs: A homegrown taxi aggregation platform designed to enhance travel experiences for tourists and provide stable income opportunities for local taxi operators.
• Nagaland Tourism Connect – Hornbill Edition: Introduction of newly branded tourism vehicles to improve the state's tourism infrastructure.
• Digital Piggery Insurance Scheme: An app-based initiative developed with the support of the Insurance Regulatory and Development Authority of India (IRDAI) and Tata AIG, ensuring efficient, cost-effective insurance processing for remote farmers.
• Chief Minister’s Micro Finance Initiative (CMMFI): Offering up to 42% subsidies for vehicles procured for commercial use in Nagaland, helping local entrepreneurs and creating more job opportunities.

Question:

1. Under the Chief Minister’s Micro Finance Initiative (CMMFI), what subsidy is offered for vehicles procured for commercial use in Nagaland?

• A) 10% subsidy
• B) 25% subsidy
• C) 42% subsidy
• D) 50% subsidy

Answer: C) The Chief Minister’s Micro Finance Initiative (CMMFI) offers up to 42% subsidies for vehicles procured for commercial use in Nagaland.