The Central Government launched a scheme that aims to develop rural growth clusters with latent potential by providing urban like facilities in rural areas. This initiative is known by which of the following names?

Introduction / Context:
Indian government schemes often have similar sounding names, and exams test your ability to match each scheme with its main objective. One important initiative focuses on developing rural growth clusters that can provide urban like amenities while retaining the village character. This is part of the policy effort to reduce migration pressure on big cities and create balanced regional development.

Given Data / Assumptions:

• The scheme aims at development of rural growth clusters.
• It targets areas with latent potential for growth and intends to provide urban like facilities.
• Options include several flagship schemes, such as Soil Health Card, Rurban Mission, crop insurance and others.

Concept / Approach:
The Shyama Prasad Mukherji Rurban Mission, commonly called the Rurban Mission, was launched to create clusters of villages that are economically, socially and infrastructure wise developed. The idea is to integrate the advantages of rural life with urban facilities like good roads, internet, skill development centres and markets. It explicitly uses the term "rurban" to indicate this rural plus urban approach, which fits the description in the question.

Step-by-Step Solution:
Step 1: Identify the key phrase "development of rural growth clusters with latent potential".Step 2: Recall which scheme focuses on rurban clusters rather than individual villages or only agriculture.Step 3: Recognise that Shyama Prasad Mukherji Rurban Mission is designed to develop such clusters with urban like amenities.Step 4: Eliminate Soil Health Card and crop insurance schemes, which are focused on agriculture and soil or risk coverage.Step 5: Choose Shyama Prasad Mukherji Rurban Mission as the correct answer.

Verification / Alternative check:
You can cross check by remembering that the word "Rurban" itself hints at rural plus urban. This directly connects to the aim of providing urban infrastructure in rural areas. In contrast, schemes like Pradhan Mantri Fasal Bima Yojana deal with crop insurance and do not talk about cluster based rural development.

Why Other Options Are Wrong:
Soil Health Card Scheme: This scheme aims at providing soil health cards to farmers indicating nutrient status of their fields; it does not develop rural growth clusters.
Pradhan Mantri Fasal Bima Yojana: This is a crop insurance scheme to protect farmers against yield losses, not a rural cluster infrastructure scheme.
National Ru Urban Mission without cluster focus: The name is similar but not the official title; the correct and formal name is Shyama Prasad Mukherji Rurban Mission, which captures the real scheme design.
Sansad Adarsh Gram Yojana: This scheme encourages Members of Parliament to adopt and develop model villages, but it focuses on individual villages rather than rurban clusters.

Common Pitfalls:
Students often confuse Rurban Mission with Sansad Adarsh Gram Yojana because both involve rural development. The key difference is that Rurban Mission is cluster based and aims at creating rural growth hubs with urban like amenities, while Sansad Adarsh Gram Yojana focuses on one model village per representative. Keeping the unique keyword "Rurban" in mind helps in quickly matching the correct scheme in exams.

Final Answer:
The scheme that aims at developing rural growth clusters with latent potential is the Shyama Prasad Mukherji Rurban Mission.