Question

What is meant by small scale industries ?

Answer 1

Small-Scale Industries:

These are the industrial undertakings having fixed investment in plant and machinery, whether held on ownership basis or lease basis or hire purchase basis not exceeding Rs. 1 crore.

Answer 2

In terms of economics,the industry is an organisation which produces something to sell that good or service in the market to earn some financial benefits.

The financial benefits are measured in terms of initial investment amounts by that industry.

And the industry which invest a small amount of money for the production process is known as the small scale industry.

The scale of the industry is also denoted by the initial investment of an industry.