Question

In 1999 the investment limit of small scale unit was Determined at ____

Answer 1

Answer:

In 1999 the investment limit of the small-scale units was Determined at 1 crore.

Explanation:

• Small-scale industrial unit advances are part of commercial banks' priority sector advances and are granted under relatively lenient conditions.
• The primary factor used to categorize units in India as "Small-scale Units" is the investment made in equipment and machinery.
• The investment limit for SSI units has been lowered from Rs. three crores to Rs. one crore per Order No. S.O. 1288 (E) dated 24.12.1999.
• According to Notification No. S.O. 1013(E), dated 9.10.2001, the maximum shall be Rs. 5 cores for a few specific articles within the headings of hosiery and hand tools.
• The following clarifications about the lower limit have been made: The government has decided to lower the investment cap on equipment and machinery for SSI/ancillary industrial ventures from Rs. 3 crores to Rs. 1 crore in order to satisfy the desires of individual SSI units and SSI organizations.
• In accordance with Order No. S.O. 1288(E), dated December 24, 1999, this decision has been announced.

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Answer 2

Answer:

before December 24, 1999 will continue to enjoy SSI status if the investment in plant and machinery does not exceed Rs. 300 lakh, notwithstanding the revised investment limit of Rs. 100 million announced on 24 December 1999.

Explanation:

The development of small industrial units across the length and breadth of the country has always been on the very high priority list of the Central and all State Governments. Special incentives were offered in the form of liberal loans on concessional terms, cash grants, allocation of raw materials, etc., which are still available to small industrial units.

Subsequently, there have been many inquiries from individual entrepreneurs, SSI units, State Governments etc. to clarify the status of SSI units set up prior to the issue of the order dated 24th December, 1999. The matter has been carefully considered and the position is clarified as follows:

(i) The units which have obtained permanent registration under the order dated 10th December, 1997 shall continue to be SSI units notwithstanding the order dated 24th December, 1999 reducing the investment limit to Rs. 1 crore;

(ii) the units which have been converted to SSI status by order dated 10th December, 1997 shall continue to be SSI units notwithstanding the order dated 24th December, 1999; and

(iii) units which have obtained provisional registration with the State authorities for their SSI status shall continue to remain SSI units notwithstanding the order dated 24th December, 1999, provided that provisional registration has taken place within the period of 180 days. stated in the order dated December 10, 1997.

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