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Question
According to Section 7 of Micro, Small and Medium Enterprises Development Act, 2006, in the case of industry specified in the First Schedule to the Industries (Development and Regulation) Act, 1951 where investment in plant & machinery does not exceed Rs 25 lakh are classified as _________.
According to Section 7 of Micro, Small and Medium Enterprises Development Act, 2006, in the case of industry specified in the First Schedule to the Industries (Development and Regulation) Act, 1951 where investment in plant & machinery does not exceed Rs 25 lakh are classified as _________.
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Solution
The correct option is C micro enterprise
According
to Section 7 of Micro, Small and Medium Enterprises Development Act,
2006, in the case of industry specified in the First Schedule to the
Industries (Development and Regulation) Act, 1951 where investment in
plant & machinery does not exceed Rs 25 lakhs are classified as micro enterprise. Micro enterprise is generally defined as a type of small business firms which can employ a few number of people.
According to Section 7 of Micro, Small and Medium Enterprises Development Act, 2006, in the case of industry specified in the First Schedule to the Industries (Development and Regulation) Act, 1951 where investment in plant & machinery does not exceed Rs 25 lakhs are classified as micro enterprise. Micro enterprise is generally defined as a type of small business firms which can employ a few number of people.
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