INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Up to 10 Lacs
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10 Lacs-2 Crores
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2 Crores-5 Crores
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None of the above
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Detailed explanation-1: -A small scale industrial enterprise should have investment of more than 25 lakhs and less than 10 crore in plant and machinery in the case of manufacturing unit. In the case of service sector the minimum amount of investment is 10 lakhs and maximum of 5 crore in plant and machinery.
Detailed explanation-2: -As per the MSMED Act 2006: Classification of the Manufacturing process. An industry is a small enterprise if investment in plant and machinery is more than 25 lakhs but does not exceed five crores.
Detailed explanation-3: -In August 1991 Government of India placed in the Parliament a set of policy measures for promoting and strengthening small and tiny enterprises. In pursuance thereof investment limits for small and ancillary industrial undertakings have been raised from Rs. 35 lakhs to Rs. 60 lakhs/Rs.