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The National Board for Micro, Small and Medium Enterprises (NBMSME) was established under the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, which came into effect on 2nd October 2006. The Board was constituted by the Government of India to oversee, advise, and facilitate the growth and development of the MSME sector in the country. Its formation was a part of the government’s larger effort to provide institutional support and coordination among various ministries, departments, and state governments involved in MSME promotion and regulation. The Board plays a pivotal role in policy formulation, monitoring implementation, and ensuring that the interests of the micro, small, and medium enterprises are adequately represented in the national economic framework. The establishment of the NBMSME was driven by the recognition of ________ ____ ____ _____ __________.
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