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    Question

    Consider the revised MSME classification (effective July

    2020) and evaluate these statements: 1. The distinction between manufacturing and service sectors has been removed. 2. A 'Medium' enterprise has an investment limit of ₹50 Crore and a turnover limit of ₹250 Crore. 3. Export turnover is included when calculating the total turnover for MSME classification. Which of the statements above is/are correct? 
    A 1 and 2 only Correct Answer Incorrect Answer
    B 2 and 3 only Correct Answer Incorrect Answer
    C 1, 2, and 3 Correct Answer Incorrect Answer
    D 1 only Correct Answer Incorrect Answer
    E 2 only Correct Answer Incorrect Answer

    Solution

    Statement 3 is incorrect. According to the government guidelines, export turnover of goods or services is excluded while calculating the turnover for the purpose of MSME classification to encourage exports.

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