Question: Consider the following statements:
i) Only PAN and Aadhar will be required now for registering an MSME.
ii) It was announced by Minister for Road Transport & Highways and Micro, Small and Medium Enterprises, Nitin Gadkari.
Which of the above are correct?
a) Only i
b) only ii
c) both i and ii
d) none of the above
Ans: c
Context
- Recently Minister for Road Transport & Highways and Micro, Small and Medium Enterprises, Nitin Gadkari has announced simplification in rules for the registration of the MSMEs.
Facts
- As per the simplified rule only PAN and Aadhaar will be required to register the MSME.
- Once the msme gets registered, it can avail multiple financial benefits provided by government under various schemes.
About MSMEs
- Any manufacturing enterprise and enterprise rendering services will be categorized in MSMEs as per following criterion:-
- Micro : Investment in Plant and Machinery or Equipment:
- Not more than Rs.1 crore and Annual Turnover ; not more than Rs. 5 crore
- Small: Investment in Plant and Machinery or Equipment:
- Not more than Rs.10 crore and Annual Turnover ; not more than Rs. 50 crore
- Medium: Investment in Plant and Machinery or Equipment:
- Not more than Rs.50 crore and Annual Turnover ; not more than Rs. 250 crore
By kameshwar shukla