1. Annual turnover
2. Number of workers
3. Investment in plant and machinery or equipment
Select the answer using the codes given below :
The classification of Micro, Small, and Medium Enterprises (MSMEs) in India is based primarily on two factors: Annual turnover and Investment in plant and machinery or equipment. Let's explore each option provided to determine which ones are correct.
- Annual turnover: As per the MSME Development Act, the revised classification includes annual turnover as a key criterion. This factor reflects the revenue capacity of the enterprise and is crucial for MSME categorization.
- Number of workers: This factor is not used in the official classification of MSMEs. While the number of workers may impact the operational scale of a business, it is not a statutory measure for classification in India.
- Investment in plant and machinery or equipment: This is a traditional criterion used for classification under the MSME Development Act. It indicates the scale of technological and capital investment within the enterprise.
Based on the above analysis, the correct factors for classifying MSMEs are Annual turnover and Investment in plant and machinery or equipment. Thus, the correct answer is:
1 and 3 only
This classification helps in determining the eligibility for various benefits, subsidies, and schemes provided by the government to nurture and promote MSMEs in India. By understanding these criteria, stakeholders can better align their business practices with governmental policies and take advantage of the available resources.
Important Questions from Industry And Infrastructure
Match List I with List II and select the correct option from the given codes.
List – I List – II A. Five Indian Institutes of Technology (IITs) were started as major technical institutions IV. First Five-Year Plan B. KVIC (Khadi Village Industries Commission) was set up III. Second Five-Year Plan C. Gadgil Yojna II. Third Five-Year Plan D. The Minimum Needs Program (MNP) was launched I. Fifth Five Year Plan Match List I with List II.
List – I (Thermal Power Plants in India) List – II (States) A. NTPC Ramagundam Super Thermal Power Plant I. Maharashtra B. Mundra Thermal Power Station II. West Bengal C. Mejia Thermal Power Station III. Telangana D. Trombay Thermal Power Plant IV. Gujarat Which one of the following is *not* an industrial corridor as per the policy initiatives?
- What is meant by MSME?
- Which of the following statements about employment situation in India according to periodic Labour Force Survey 2017-18 is/are correct?
1. Construction sector gave employment to nearly one-tenth of urban male workforce in India
2. Nearly one-fourth of urban female workers in India were working in manufacturing sector
3. One-fourth of rural female workers in India were engaged in the agri-culture sector
Select the correct answer using the code given below :
