UPSC PRELIMS · ECONOMICS · MSMES
Consider the following statements with reference to India : 1. According to the 'Micro, Small and Medium Enterprises Development (MSMED) Act, 2006', the 'medium enterprises' are those with investments in plant and machinery between (' 15 crore and ('25 crore. 2. All bank loans to the Micro, Small and Medium Enterprises qualify under the priority sector. Which of the statements given above isfare correct?
Take a breath. Choose one. Press A–D on your keyboard if you like.
EXPLANATION
The investment threshold quoted for medium enterprises is not the applicable MSMED classification, while bank credit to MSMEs is subject to priority-sector rules but not every loan in every circumstance as stated. Hence only statement 2 is treated as correct.
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