Before amendment in the MSME Act, a micro enterprise engaged in providing service where the investment in equipment does not exceed Rs. _________.

15 lakh

No worries! We‘ve got your back. Try BYJU‘S free classes today!

20 lakh

No worries! We‘ve got your back. Try BYJU‘S free classes today!

10 lakh

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

5 lakh

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C 10 lakh
Our exclusive credit Plans for Small and Medium Enterprise entails providing a lower rate of interest for growing business units and offering them access to banking services at a low rate of interest, quick processing, and servicing. Micro, Small and Medium Enterprises Development (MSMED) Act, 2006.
turnover is more than Rs. 75 crore but does not exceed Rs. 250 crore. The amendment empowers Central Government to vary turnover limits, provided not exceeding thrice the limits specified in Section 7 of MSMED Act by issuing a notification.

Suggest Corrections

Similar questions

Q. Investment in equipment excluding land and building for enterprises engaged in providing or rendering of services for a medium enterprise doesn't exceed ______ as per the MSME Act.

Q. The Government of India has defined micro, small and medium enterprises. Which of the following is correctly matched for an enterprise engaged in the manufacture or processing of goods as per the definition ?
(A) Micro enterprise: Investment in plant in plant and machinery does not exceed 25 lakhs.
(B) Small enterprise: Investment in plant and machinery is more than 25 lakhs but does not exceed 5 cr.
(C) Medium enterprise: Investment in plant and machinery is more than 5 cr but does not exceed 20 cr.

Q. 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 _________.

Consider the following pairs of size of enterprise and its classification as per Micro, Small and Medium Enterprises Development (Amendment) Bill, 2015:

Which of the above is/are correctly matched?

1 and 2 only
3 and 4 only
2,3 and 4 only
2 and 3 only

A tiny enterprise is defined as a business enterprise whose investment in plant and machinery does not exceed ____.

Join BYJU'S Learning Program