a micro small scale industry has investment of rs 24 lakhs and engaged in manufacturing business. Now it want to increase its investment by rs 4 lakhs. what type of business will it become and what is the maximum investment in such cases ?
Answers
Answered by
2
Answer:
It will become a small type company of small business.
Answered by
2
The answer to the questions asked are:
Explanation:
Type of business it will become : Small enterprise
The maximum investment in such cases : 5 crores
The Government of India (GoI) had enacted the MSMED Act, 2006 in terms of which the definition of micro, small and medium enterprises engaged in the manufacture, processing or preservation of goods is as mentioned below:
- A micro enterprise: enterprise where investment in plant and machinery does not exceed Rs. 25 lakh;
- A small enterprise: investment is more than Rs. 25 lakh but less than Rs. 5 crore;
- A medium enterprise: investment is more than Rs.5 crore but less than Rs.10 crore.
Similar questions