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What is MSME Act 2006 Overview and Impact about?

The MSME Act was passed in India in 2006 to promote and develop small and medium enterprises. It defines micro, small, and medium enterprises based on their plant and machinery investment levels. For manufacturing enterprises, the thresholds are up to Rs. 25 lakh for micro, Rs. 25 lakh to Rs. 5 crore for small, and Rs. 5 crore to Rs. 10 crore for medium. The act aims to facilitate credit flow and competitiveness for MSMEs, generate employment, and minimize sickness in the sector. It strengthens provisions f

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sirisha_reddy2209

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EN