BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Small Scale Industries (SSI) are those industries in which the manufacturing, production and rendering of services are done on a small or micro scale. These industries make a one-time investment in machinery, plant, and equipment, but it does not exceed Rs.10 crore and annual turnover does not exceed Rs.50 crore.

Detailed explanation-2: -Small-scale industries (SSI) such as bakeries, beauty parlours, and leather bag-making units, are those that manufacture and render services by making a limited investment. Small-scale industries are crucial to India’s economy because they generate employment and utilise local resources.

Detailed explanation-3: -SSI is money that is paid by the government to elderly and disabled people with limited income or assets. SSI is an abbreviation for ‘Supplemental Security Income. ‘

Detailed explanation-4: -Improvement in Export: Small scale industries contribute to around 40% of the total exports done by India, which forms a significant part of the revenue earned from the exports. Small scale industries work towards increasing the forex reserves of the country that reduces the load on balance of payment of the country.

Detailed explanation-5: -The small-scale and micro-scale industries came under the MSME Act. hence, both MSME and SSI are the same. Simply The government expands the scope of the SSI and termed it MSME. The government passed the MSME (Micro, Small, and Medium Enterprises) Act in the year of 2006.