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Micro and Small Scale Industries

The document discusses the significance of Micro and Small Scale Industries (MSMEs) in promoting economic growth and employment, while also highlighting the challenges they face, such as lack of market knowledge and access to credit. It suggests various government incentives to support MSMEs, including tax rebates and skill development programs. Additionally, it outlines the objectives of MSMEs, emphasizing their role in eradicating unemployment and fostering balanced regional development.

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monishwar omkumar
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3 views2 pages

Micro and Small Scale Industries

The document discusses the significance of Micro and Small Scale Industries (MSMEs) in promoting economic growth and employment, while also highlighting the challenges they face, such as lack of market knowledge and access to credit. It suggests various government incentives to support MSMEs, including tax rebates and skill development programs. Additionally, it outlines the objectives of MSMEs, emphasizing their role in eradicating unemployment and fostering balanced regional development.

Uploaded by

monishwar omkumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Micro and Small Scale Industries

1. What made you choose the topic of your project as MSME's?


Ans. Being Born and brought up in a middle class Business family I have developed a strong
interest in knowing how the medium, micro and small scale industries work so this curiosity
will help me giving a future option of joining my family business or starting MSME of any
own. (Also you can pick up any point from objective of the project)
2. Though MSME's are so popular among all the developing economics – Why do you think
they face so many problems?
Ans. Everyone knows that MSME's promotes growth, and development to the economy
along with creating employment opportunities. But still they also face challenges that keep
threating their ability to grow and even their survival. The reasons for the same are:
 Lack of Knowledge About Market.
 Technologically Backward.
 Availability of Credit Facilities.
 Skilled Human Resources.
 Lack of Exposure.

3. Name few more incentives apart from the one's mentioned in your project that the government can
provide do to promote and uplift MSME's.

Ans. As per my point of view, government can give for more in incentives like:

 More tax rebates can be given.


 Insurance to these industries can be given to increase risk appetite.
 Land on subsidized rates should be provided.
 More awareness sessions to be provided for Skill Development
 Low cost managerial programmes should be developed to impart knowledge of management.
4. What are the objective of MSME?

Ans. There are the various objectives of developing small enterprise

 To generate large scale employment opportunities for the unemployed speedily with relatively
low investment.
 To Eradicate Unemployment Problem from the Country, which is the main highlighting reason
 To develop the economy as a whole by covering areas across country like in Rural Areas, smaller
towns and economically backward regions.
 To bring Backward Regions too in the mainstream of national development.
 To promote balanced regional development in the Whole Country.
 To ensure more equitable distribution of National Wealth & Income.
 To encourage effective mobilization of Untapped Resources of the Country.
 To improve Socio-Economic Conditions and Standard of Living of the people in the Country.
 To seize the Vast Opportunities created for Small Enterprises due to Liberalization and
Globalization policies of the Government of India.
 To bring more Revenue to the Central & State Governments by way of Taxes.

5.Is MSME registration compulsory?

Ans. No, it is not compulsory but it is always better to register because a registered MSME gets a lot of
benefits.

5. What are the documents required for MSME registration?


Ans. Aadhar Card and Pancard.
6. Why is MSME important for an economy?
Ans. MSME is every crucial & important for an economy as:
 To generate large scale employment opportunities for the unemployed speedily with
relatively low investment.
 To Eradicate Unemployment Problem from the Country, which is the main highlighting
reason.
 To develop the economy as a whole by covering areas across country like in Rural Areas,
smaller towns and economically backward regions.
 To bring Backward Regions too in the mainstream of national development.
 To promote balanced regional development in the Whole Country.
 To ensure more equitable distribution of National Wealth & Income.
 To encourage effective mobilization of Untapped Resources of the Country.
 To improve Socio-Economic Conditions and Standard of Living of the people in the
Country.
 To seize the Vast Opportunities created for Small Enterprises due to Liberalization and
Globalization

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