Question

Small scale industries (SSI) are those industries in which manufacturing, providing services, productions are done on small scale or micro scale. For example, these are the ideas of Small scale industries: Napkins, tissues, chocolates, toothpick, water bottles, small toys, papers, pens. Small scale industries play an important role in social and economic development of India. These industries do a one-time investment in machinery, plants, and industries which could be on an ownership basis, hire purchase or lease basis. But it does not exceed Rs. 1 Crore. Let us discuss in detail about it.Small Scale Industries
Essentially small scale industries comprise of small enterprises who manufacture goods or services with the help of relatively smaller machines and a few workers and employees. Basically, the enterprise must fall under the guidelines set by the Government of India. At the time being such limits are as follows,

For Manufacturing Units for Goods: Investment in plant and machinery must be between 25 lakhs and five crores.
For Service Providers: Investment in machinery must be between 10 lakhs and two crores.
In developing countries like India, these small scale industries are the lifeline of the economy. These are generally labor-intensive industries, so they create much employment. They also help with per capita income and resource utilization in the economy. They are a very important sector of the economy from a financial and social point of view.

Answer 1

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