BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Old classification was based on annual turnover
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New classification based on investment
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Based on MSMED Act 2007
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None of these
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Detailed explanation-1: -MSME stands for Micro, Small, and Medium Enterprises. MSMEs organise programmes to encourage youth to establish business activities. MSMEs encourage entrepreneurs of all types.
Detailed explanation-2: -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.
Detailed explanation-3: -Website Content Owned and Managed by Ministry of Micro, Small & Medium Enterprises, Government of India Designed, Developed and Hosted by National Informatics Centre( NIC ) Last Updated: 01 Feb 2023.
Detailed explanation-4: -The MSMEs sector supplies goods and services to large industries and is the backbone of exports from India.