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GTU MOST IMP QUESTIONS FOR  E&S

CH 1 = CH 1 MOST IMP QUESTIONS

CH 2 = CH 2 MOST IMP QUESTIONS

CH 3 =  CH 3 MOST IMP QUESTIONS

CH 5 =  CH 5 MOST IMP QUESTIONS

Chapter 4

1. Subsidy Scheme of Central Government

Subsidies are financial aid provided by the government to reduce the cost burden on individuals, businesses, or industries. These schemes aim to promote economic growth, support vulnerable groups, and stimulate specific sectors of the economy.

Types of Subsidy Schemes:

• Agriculture Subsidies:
  • These support farmers by reducing the cost of essential inputs like fertilizers, seeds, and irrigation.
  • Examples include the fertilizer subsidy and MSP (Minimum Support Price) for crops.
• Housing Subsidies:
  • Under schemes like Pradhan Mantri Awas Yojana (PMAY), financial assistance is given to low-income families to own houses.
  • Beneficiaries receive interest subsidies on home loans.
• Energy Subsidies:
  • For renewable energy: Incentives for solar panel installations or wind farms.
  • For domestic use: Schemes like PMUY (Pradhan Mantri Ujjwala Yojana) provide subsidized LPG connections to rural households.
• Education Subsidies:
  • Scholarships and financial aid for students, especially from marginalized communities, to promote access to higher education.
  • Example: National Scholarship Portal.
• Start-Up Subsidies:
  • Grants, loans, or tax benefits for new businesses to encourage entrepreneurship and innovation.
  • Example: Startup India Seed Fund Scheme (SISFS) for early-stage start-ups.

The impact of subsidies:

• Encourages participation in economic activities.
• Addresses regional imbalances.
• Supports disadvantaged populations.

2. Definition of Start-Up

A start-up is a young, innovative business venture focused on developing unique products or services that address specific market needs. In India, the government defines a start-up as:

1. An entity less than 10 years old from its incorporation.
2. Annual turnover does not exceed ₹100 crore in any financial year.
3. Works on innovative and scalable products, services, or processes.

Features of Start-Ups:

• Innovation: Core to their business model, often using technology.
• Scalability: Designed to grow quickly with minimal additional costs.
• Risk-Taking: High risks, but potential for significant rewards.

Government Support:

• Startup India Initiative: Offers benefits like tax exemptions, easier compliance, and funding support.
• Mudra Loans: Provides microfinance loans to start-ups without collateral.
• Atal Innovation Mission (AIM): Promotes innovation in schools and start-ups by funding R&D and incubators.

Start-ups are vital for economic growth, job creation, and fostering innovation.

3. Intellectual Property Rights (IPR)

Intellectual Property Rights are legal rights granted to protect the creations of the human mind. These rights ensure creators and inventors can control and profit from their innovations.

Types of IPR:

• Patents: Protect inventions and technological innovations.
• Trademarks: Protect brand identity through symbols, names, or logos.
• Copyrights: Protect creative works like books, music, and films.
• Designs: Protect the unique aesthetic aspects of products.
• Geographical Indications (GI): Protect products associated with specific locations, e.g., Darjeeling Tea.

Importance of IPR:

• Encourages innovation and creativity.
• Ensures recognition and financial benefits for creators.
• Promotes fair competition in the market.

4. Trademark and Patent

• Trademark:

  • A trademark is a symbol, word, or design that distinguishes goods or services of one company from another.
  • Example: McDonald’s golden arches or Apple’s logo.
  • Purpose: Protects brand identity and builds trust with consumers.
  • Valid for 10 years, renewable indefinitely.

• Patent:

  • A patent is granted for a new, useful, and non-obvious invention or process.
  • Example: The invention of the light bulb by Thomas Edison.
  • Purpose: Grants exclusive rights to use, manufacture, or sell the invention for 20 years.

Key Differences:

Aspect	Trademark	Patent
Purpose	Protects brand identity	Protects technical inventions.
Validity	Renewable every 10 years	Valid for 20 years (non-renewable).
Scope	Names, logos, symbols	Products, processes, methods.

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5. Copyrights

Copyrights protect original creative works in literary, artistic, musical, and other forms. The creator gets exclusive rights to reproduce, distribute, or display their work.

Examples of Copyrighted Works:

• Books, novels, and poems.
• Music compositions and recordings.
• Films, photographs, and paintings.
• Software codes and architectural designs.

Features of Copyright:

• Automatic Protection: No registration required, but registering offers legal proof of ownership.
• Duration:
  • In most cases, lasts the lifetime of the creator plus 60 years.
• Rights Granted:
  • Reproduction rights.
  • Distribution rights.
  • Public performance and broadcasting rights.

Importance of Copyright:

• Protects creators’ financial and moral rights.
• Ensures public access to cultural and creative works while respecting creators.

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