what is the role of small scale industries in industrial development of India why and how has the government shielded small scale industries from the large firms
Answers
Explanation:
Small scale industries are important because it helps in increasing employment and economic development of India. It improves the growth of the country by increasing urban and rural growth. Role of Small and medium scale enterprises are to help the government in increasing infrastructures and manufacturing industries, reducing issues like pollution, slums, poverty, and many development acts. Small scale manufacturing industries and cottage industries play a very important role in the economic development of India. If any amount of capital is invested in small scale industries it will help in reducing unemployment in India and increasing self-employment. The industry is a sector in which the production of goods is a segment of the economy.
Answer:
Explanation:
The industry is a sector in which the production of goods is a segment of the economy. Let us learn more about the importance of Small scale industries and how SSI helps in developing the country.
Small Scale Industries Definition
Previously, the definition of small scale industries depended upon the business’s capital and labour. This definition is still used to demarcate between small, medium and large-scale industries.
The Central Government has the authority to determine capital investment requirements for small-scale industries. These requirements are listed under the Industries (Development and Regulation) Act, 1951.
A small enterprise in which investment in plant & machinery ranges between Rs. 25 lakhs to Rs. 5 crores is a small-scale industry.
Similarly, for industries that provide services, the investment requirement is between Rs. 10 lakhs and Rs. 2 crores.