New Click here to Enroll for SIDBI MSME Expert Class by ex-GM, SBI on Nov 24

    Register

    Question

    As per MSMED Act 2006, a micro enterprise should have turnover of less than _______

    A Rs.1 crore Correct Answer Incorrect Answer
    B Rs.2 crore Correct Answer Incorrect Answer
    C Rs.2.5 crore Correct Answer Incorrect Answer
    D Rs.5 crore Correct Answer Incorrect Answer
    E Rs.10 crore Correct Answer Incorrect Answer

    Solution

    In terms of Government of India Gazette Notification S.O. 2119 (E) dated June 26, 2020  the definition of micro, small and medium enterprises is as under: ·       A micro enterprise is an enterprise where the investment in plant and machinery or equipment does not exceed ₹1 crore and turnover does not exceed ₹5 crore ; ·       A small enterprise is an enterprise where the investment in plant and machinery or equipment does not exceed ₹10 crore and turnover does not exceed ₹50 crore; and ·       A medium enterprise is an enterprise where the investment in plant and machinery or equipment does not exceed ₹50 crore and turnover does not exceed ₹250 crore.

    Practice Next