Question
Which of the following term in correct about Micro
Enterprises in India?Solution
Micro, Small, Medium Enterprises (MSME’s) are entities that are involved in production, manufacturing and processing of goods and commodities. The concept of MSME was first introduced by the government of India through the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006. Micro - Investment less than Rs. 1 crore or Turnover less than Rs. 5 crores Small - Investment less than Rs. 10 crore or Turnover up to Rs. 50 crores Medium - Investment less than Rs. 20 crore or Turnover up to Rs. 100 crores
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