Question: On February 27, 2020, National MSME Awards were presented at a function held in New Delhi. In which year was this award established?
(a) 1985
(b) 1983
(c) 1980
(d) 1990
Answer: (b)
Related facts:
- On February 27, 2020, Union Minister of Micro, Small and Medium Enterprises and Road Transport and National Highways Nitin Gadkari presented the National MSME Awards, 2020 at a function held in New Delhi.
- During the event, 46 MSME entrepreneurs were awarded under various categories. 4 awards were given to various states and union territories for outstanding performance.
- It is notable that the awards were instituted in the year 1983 to honor outstanding performers in the fields of entrepreneurship (manufacturing and service), product quality, innovation, export and manufacturing techniques.
- The awards are also given to outstanding achievers in Khadi, Village Industries & Coir sector as well as to Banks in recognition of their credit support to the Small and Micro Enterprises.
- The winners of the Award shall have the privilege of using the symbol of the Award in their letter heads and their employees can wear labels, pins, ties or other distinctive badges with Award symbol indicating the year of the Award.
- The amount of Cash Prize received by the Winners of the National Award is exempted under Section 10(17) of Income Tax Act 1961.
Link:
https://pib.gov.in/PressReleseDetail.aspx?PRID=1604570
https://pib.gov.in/newsite/PrintRelease.aspx?relid=94367
http://www.dcmsme.gov.in/schemes/NationalAwardEntrepreneurshipManufacturing.pdf