The correct answer is ₹5 lakh.
In 1950, the Indian government defined small-scale industries based on the maximum investment allowed. This definition aimed to promote and support smaller businesses, providing them with specific benefits and policies. The limit was set to encourage entrepreneurship and employment generation within a controlled framework. The threshold of ₹5 lakh was chosen considering the economic conditions and industrial landscape of the time. This definition served as a crucial instrument in shaping the growth and development of the small-scale sector in post-independence India. Subsequent changes in this definition have occurred over time, reflecting economic growth and policy adjustments. However, the initial definition of ₹5 lakh in 1950 holds historical significance as a benchmark for the recognition and support of small-scale industries in India.
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