Economics · Economy
Consider the following statements regarding the classification of Micro, Small, and Medium Enterprises (MSMEs) in India: Filo + 3 Statement 1: Prior to 2018, the only legal criterion to distinguish the three categories (micro, small, and medium enterprises) was investment in plant and machinery/equipment. Testbook Statement 2: A proposed revision in 2018 abandoned this practice and permanently replaced the investment criterion with a production-based criterion. Testbook Choose the correct option on the basis of the above statements:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Both Statement 1 and Statement 2 are wrong
- 2Both Statement 1 and Statement 2 are correct
- 3Statement 1 is wrong, Statement 2 is correct
- 4Statement 1 is correct, Statement 2 is wrong✓
Correct answer
Statement 1 is correct, Statement 2 is wrong
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Economy MCQs →Want more practice questions on Economy?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Economy