MSME_Revision

What percentage of India’s GDP is contributed by MSMEs?

• 5%

• 8%

• 12%

• 20%

Which act governs the definition and regulation of MSMEs in India?

• Factories Act, 1948

• MSME Act, 2006

• Companies Act, 2013

• Partnership Act, 1932

What is the investment limit for a micro enterprise in plant and machinery or equipment as per the latest MSME definition?

• ₹1 crore

• ₹10 crore

• ₹50 crore

• ₹100 crore

What is the turnover limit for a medium enterprise in India under the MSME definition revised in 2020?

• ₹10 crore

• ₹50 crore

• ₹100 crore

• ₹250 crore

Which of the following sectors is NOT typically considered part of MSMEs?

• Manufacturing

• Service

• Agriculture

• Retail

What is the primary objective of MSMEs?

• To contribute to government tax revenues

• To create employment opportunities

• To promote international trade

• To focus on large-scale production

What is the minimum number of designated partners required to form a Limited Liability Partnership (LLP)?

• 1

• 2

• 5

• 10

Which of the following is required for registering a sole proprietorship under MSMEs in India?

• Goods and Services Tax (GST) registration

• Partnership deed

• UdyogAadhaar

• Trade license

Which of the following sectors is categorized as part of the service sector?

• Manufacturing of cement

• Courier delivery services

• Oil refineries

• Automobile assembly

What percentage of MSMEs are located in rural areas as per the Sixth Economic Census?

• 40%

• 50%

• 59.48%

• 75%