Examkin

Question

Difficulty: MediumExplicit and Fact-Based Information Extraction

Read the following passage carefully:

In September 2024, the Ministry of Mines released the operational framework for the National Critical Minerals Mission (NCMM). Under this framework, a dedicated Critical Minerals Recycling Incentive (CMRI) scheme was instituted with a total financial outlay of ₹1,500 crore to run through 2029. The CMRI provides a direct capital subsidy of 25% for setting up secondary mineral processing facilities, provided that the facility processes at least three distinct critical minerals listed under Schedule A. However, state-owned public sector undertakings (PSUs) are exempted from this multi-mineral requirement, provided their annual processing capacity exceeds 10,000 metric tonnes. Furthermore, private entities operating within Special Economic Zones (SEZs) are explicitly excluded from claiming the capital subsidy if they already receive tax concessions under the SEZ Policy of 2005.

Based on the passage above, which of the following statements regarding the CMRI scheme is explicitly correct?

  1. State-owned public sector undertakings with an annual processing capacity exceeding 10,000 metric tonnes are exempt from the requirement to process at least three distinct critical minerals.Answer
  2. B
    Private entities operating in Special Economic Zones are eligible for the 25% capital subsidy regardless of whether they receive benefits under the SEZ Policy of 2005.
  3. C
    All secondary processing facilities receive a direct capital subsidy of 25% irrespective of the number of critical minerals they process.
  4. D
    Private entities must export at least half of their recycled critical mineral yield to qualify for financial incentives under the mission.

Answer

State-owned public sector undertakings with an annual processing capacity exceeding 10,000 metric tonnes are exempt from the requirement to process at least three distinct critical minerals.
The correct answer accurately reflects the explicit fact stated in the passage: state-owned PSUs are exempted from the multi-mineral processing requirement if their annual processing capacity exceeds 10,000 metric tonnes.

Step-by-Step Solution

1
Locate the specific passage provisions regarding exemptions to the multi-mineral requirement.
The text states: 'However, state-owned public sector undertakings (PSUs) are exempted from this multi-mineral requirement, provided their annual processing capacity exceeds 10,000 metric tonnes.'
Direct fact extraction requires identifying explicit qualifying conditions and exemptions in the text.
2
Evaluate the statement concerning state-owned public sector undertakings against the extracted passage fact.
The statement matches the explicit condition verbatim in meaning.
Explicit details must be verified directly without introducing external assumptions.
3
Verify and eliminate statements that contradict explicit passage limiters or introduce unstated rules.
Statements claiming SEZ eligibility regardless of tax concessions, universal 25% subsidy without conditions, or unstated export requirements contradict or exceed explicit passage facts.
Incorrect options alter explicit conditions or import unstated external assumptions.

Key Concept

Explicit and Fact-Based Information Extraction
Estimated Time:1m 15s
Rate this question

Topics

Explicit and Fact-Based Information Extraction

More questions from this topic