Important For IBPS Clerk Exam Banking Gk: Micro, Small and Medium Enterprises (MSME). All about MSME Act 2006. The Micro Small & Medium Enterprises Development(MSMED) Act 2006 was become operational from 2nd October 2006. The Act replaces the concept of “Industry” with “Enterprises”. The definition of micro, small and medium enterprises is as under: (a) Enterprises engaged in the manufacture or production, processing or preservation of goods as specified below: *.A micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. 25 lakh; *.A small enterprise is an enterprise where the investment in plant and machinery is more than Rs. 25 lakh but does not exceed Rs. 5 crore; *.A medium enterprise is an enterprise where the investment in plant and machinery is more than Rs.5 crore but does not exceed Rs.10 crore. (b) Enterprises engaged in providing or rendering of services and whose investment in equipment (original cost excluding land and building and furniture, fittings and other items not directly related to the service rendered or as may be notified under the MSMED Act, 2006 are specified below. *.A micro enterprise is an enterprise where the investment in equipment does not exceed Rs. 10 lakh; *.A small enterprise is an enterprise where the investment in equipment is more than Rs.10 lakh but does not exceed Rs. 2 crore; and *.A medium enterprise is an enterprise where the investment in equipment is more than Rs. 2 crore but does not exceed Rs. 5 crore. #singla
Posted on: Wed, 06 Nov 2013 11:06:12 +0000
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