ENTREPRENEURSHIP

Detailed explanation-1: -The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises is as under: A micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. 25 lakh.

Detailed explanation-2: -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. Small Enterprise: Where the investment in Plant and Machinery or Equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees.

Detailed explanation-3: -An enterprise is considered “small”, for an annual turnover ranging between Rs. 5 crores to Rs 50 crores and its net investments in plants, machinery, and equipment ranges between Rs. 1 crores to Rs. 10 crores.

Detailed explanation-4: -Manufacturing Enterprises and Enterprises rendering Services Investment in Plant and Machinery or Equipment: Not more than Rs.1 crore and Annual Turnover; not more than Rs.