Describe the meaning and scope of Micro, Small and medium enterprises.

Question

06 Mar 2024

Answer :

Word Count : 1023

Micro, Small and Medium Enterprises (MSMEs) are defined based on their investment in plant and machinery or equipment, and these definitions vary across different sectors and countries. In India, the Ministry of Micro, Small and Medium Enterprises has defined these enterprises based on their investment in plant and machinery or equipment, as per the MSME Development Act, 2006.

Meaning:

1. Micro Enterprises: These are enterprises where the investment in plant and machinery or equipment does not exceed ₹1 crore for manufacturing enterprises and ₹10 lakh for service enterprises.

2. Small Enterprises: These are enterprises where the investment in plant and machinery or equipment is more than ₹1 crore but does not exceed ₹10 crore for manufacturing enterprises and more than ₹10 lakh but does not exceed ₹5 crore for service enterprises.

3. Medium Enterprises: These are enterprises where the investment in plant and machinery or equipment is more than ₹10 crore but does not exceed ₹50 crore for manufacturing enterprises and more than ₹5 crore but does not exceed ₹15 _________ __________ __________ _______ ___ ______ ___ ________ ___ ______ ___.
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