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Which of the following partly defines the micro-enterprise in India?
  • a)
    Annual turnover not more than Rs. 15 crore
  • b)
    Investment in Plant and Machinery not more than Rs. 1.5 crore
  • c)
    Annual turnover of more than Rs. 5 crore.
  • d)
    Investment in Plant and Machinery or equipment not more than Rs. 1 crore
  • e)
    None of the above/More than one of the above
Correct answer is option 'D'. Can you explain this answer?
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Which of the following partly defines the micro-enterprise in India?a)...
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Which of the following partly defines the micro-enterprise in India?a)...
Understanding Micro-Enterprise Criteria in India
In India, micro-enterprises are defined under the MSME (Micro, Small, and Medium Enterprises) Development Act. The criteria for classifying a business as a micro-enterprise are based on investment and annual turnover.
Key Definition Criteria
- Investment in Plant and Machinery: A micro-enterprise should have an investment in plant and machinery or equipment not exceeding Rs. 1 crore.
- Annual Turnover: The annual turnover for a micro-enterprise should not exceed Rs. 5 crore.
Analysis of the Options
- Option A: Annual turnover not more than Rs. 15 crore - This does not qualify as micro; it exceeds the limit.
- Option B: Investment in Plant and Machinery not more than Rs. 1.5 crore - This exceeds the allowable limit for micro-enterprises.
- Option C: Annual turnover of more than Rs. 5 crore - This again exceeds the micro-enterprise limit.
- Option D: Investment in Plant and Machinery or equipment not more than Rs. 1 crore - This is accurate and aligns with the definition of a micro-enterprise.
- Option E: None of the above/More than one of the above - This is incorrect since Option D is valid.
Conclusion
Thus, the correct answer is Option D, as it accurately reflects the criteria for defining a micro-enterprise in India. Understanding these criteria is essential for entrepreneurs looking to classify their businesses accurately and access various government schemes and benefits tailored for micro-enterprises.
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Which of the following partly defines the micro-enterprise in India?a)Annual turnover not more than Rs. 15 croreb)Investment in Plant and Machinery not more than Rs. 1.5 crorec)Annual turnover of more than Rs. 5 crore.d)Investment in Plant and Machinery or equipment not more than Rs. 1 croree)None of the above/More than one of the aboveCorrect answer is option 'D'. Can you explain this answer?
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Which of the following partly defines the micro-enterprise in India?a)Annual turnover not more than Rs. 15 croreb)Investment in Plant and Machinery not more than Rs. 1.5 crorec)Annual turnover of more than Rs. 5 crore.d)Investment in Plant and Machinery or equipment not more than Rs. 1 croree)None of the above/More than one of the aboveCorrect answer is option 'D'. Can you explain this answer? for BPSC (Bihar) 2024 is part of BPSC (Bihar) preparation. The Question and answers have been prepared according to the BPSC (Bihar) exam syllabus. Information about Which of the following partly defines the micro-enterprise in India?a)Annual turnover not more than Rs. 15 croreb)Investment in Plant and Machinery not more than Rs. 1.5 crorec)Annual turnover of more than Rs. 5 crore.d)Investment in Plant and Machinery or equipment not more than Rs. 1 croree)None of the above/More than one of the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for BPSC (Bihar) 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following partly defines the micro-enterprise in India?a)Annual turnover not more than Rs. 15 croreb)Investment in Plant and Machinery not more than Rs. 1.5 crorec)Annual turnover of more than Rs. 5 crore.d)Investment in Plant and Machinery or equipment not more than Rs. 1 croree)None of the above/More than one of the aboveCorrect answer is option 'D'. Can you explain this answer?.
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