Small Business Concepts Quiz
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Questions and Answers

What is the maximum investment limit in plant & machinery for a small manufacturing business according to MSMD Act, 2006?

  • Up to 10 crore
  • Up to 5 crore (correct)
  • Up to 2 crore
  • Up to 25 lakhs

What is the main focus of the National Small Industries Corporation (NSIC)?

  • Developing agricultural technology
  • Providing financial grants to small businesses
  • Exporting raw materials
  • Supplying imported and heavy machines on easy installments (correct)

What is the maximum investment limit in equipment for a micro service business according to MSMD Act, 2006?

  • Up to 10 lakh (correct)
  • Up to 10 crore
  • Up to 5 crore
  • Up to 2 crore

What is the objective of the National Small Industries Corporation (NSIC)?

<p>Promote and fasten the growth of SSI in the country (C)</p> Signup and view all the answers

What is the role of Small Business in Rural India according to the text?

<p>Employment, rural development, strengthening economic condition, mobilization of local resources (D)</p> Signup and view all the answers

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