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    Question

    What role does the National Board for Micro, Small, and

    Medium Enterprises (NBMSME) play under the MSME Development Act, 2006 ?
    A It solely focuses on ensuring that MSMEs are paid on time by large corporations and government departments. Correct Answer Incorrect Answer
    B It creates policies to improve access to market opportunities for MSMEs, ensuring that they compete effectively in the national and international markets. Correct Answer Incorrect Answer
    C It serves as the central body for issuing and renewing Udyam registrations for MSMEs across India. Correct Answer Incorrect Answer
    D It plays a significant role in monitoring and evaluating the effectiveness of government schemes designed for MSMEs and makes recommendations to improve these policies. Correct Answer Incorrect Answer
    E It is responsible for directly managing the day-to-day operations of the Ministry of MSME and the implementation of their projects. Correct Answer Incorrect Answer

    Solution

    The National Board for Micro, Small, and Medium Enterprises (NBMSME) , established under the MSME Development Act, 2006 , plays a crucial role in formulating policies, evaluating government schemes, and making recommendations to improve the growth and development of MSMEs. It is not directly responsible for registration processes (which is handled by Udyam) or for managing operations at the Ministry level, but rather serves as an advisory and monitoring body. The Board, under the general guidance of the Central Government, will carry out the following functions: ·         assess   factors   affecting   the   growth of  micro,  small,  and  medium enterprises, reviewing Government policies and programs to enhance their competitiveness and growth, and analyzing their impact. ·         make recommendations on the above issues and any other matter referred by the Central Government aimed at enhancing the competitiveness and growth of these enterprises. ·         advise  the  Central  Government on the utilization of the Fund or Funds established under section 12 of the Act

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