BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs. 15 Lakh
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Rs. 20 Lakh
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Rs. 25 Lakh
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Rs. 30 Lakh
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Detailed explanation-1: -2020. Micro Enterprise: Where the investment in Plant and Machinery or Equipment does not exceed one crore rupees and turnover does not exceed five crore rupees.
Detailed explanation-2: -A micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. 25 lakh; A small enterprise is an enterprise where the investment in plant and machinery is more than Rs.
Detailed explanation-3: -MSME stands for Micro, Small, and Medium Enterprises. It was introduced by the Government of India in agreement with the MSMED (Micro, Small, and Medium Enterprises Development) Act of 2006. As per this act, MSMEs are the enterprises involved in the processing, production, and preservation of goods and commodities.
Detailed explanation-4: -For medium Enterprises, now it will be Rs. 50 Crore of investment and Rs. 250 Crore of turnover. The existing criterion of definition of MSMEs is based on the MSMED Act, 2006.