Loading...
UPSC 2023: Consider the following statements with reference to India: 1. According to the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, the ‘medium enterprises’ are those with investments in plant and machinery between ₹15 crore and ₹25 crore. 2. All bank loans to the Micro, Small and Medium Enterprises qualify under the priority sector. Which of the statements given above is/are correct?
(a)1 only
(b)2 only
(c)Both 1 and 2
(d)Neither 1 nor 2
Attempt This Question
Not attemptedCorrect Answer: (b) 2 only
1. The 2020 revision (effective 1 July 2020) raised the investment ceiling for a medium enterprise to ₹50 crore (with turnover ≤ ₹250 crore); the old ₹15–25 crore band is therefore incorrect. ([edukemy.com](https://edukemy.com/blog/upsc-prelims-2023-question-paper-with-answer-key-general-studies-paper-1/?utm_source=openai)) 2. RBI’s Priority-Sector Lending Master Directions state unambiguously: “All bank loans to MSMEs shall qualify for classification under priority sector lending.” ([rbi.org.in](https://www.rbi.org.in/Scripts/NotificationUser.aspx/upload/notification/www.sebi.gov.in/NotificationUser.aspx?Id=12799)) Hence only Statement 2 is correct.
Related UPSC Questions
More from Infrastructure & Industry
2024moderate
With reference to Corporate Social Responsibility (CSR) rules in India, consider the following statements: 1. CSR rules specify that expenditures that
2025moderate
Consider the following statements: I. India has joined the Minerals Security Partnership as a member. II. India is a resource-rich country in all the
2025moderate
Consider the following activities: I. Production of crude oil II. Refining, storage and distribution of petroleum III. Marketing and sale of petroleum
Related Indian Economy Topics
2023Financial Markets & Capital Markets
Consider the following markets: 1. Government Bond Market 2. Call Money Market 3. Treasury Bill Market 4. Stock Market How many of the above are incl
2023Agriculture & Rural Development
Which one of the following best describes the concept of ‘Small Farmer Large Field’?
Frequently Asked Questions
What is the correct answer to this UPSC 2023 Indian Economy question?▼
The correct answer is option (b): 2 only. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this Infrastructure & Industry question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 2023, GS Paper 1, as Question 71. It falls under Indian Economy > Infrastructure & Industry.
What is the difficulty level of this UPSC question?▼
This question is rated "moderate". It requires sound conceptual understanding of the topic.
How many UPSC Prelims questions have been asked from Infrastructure & Industry?▼
UPSC has asked 74 questions from Infrastructure & Industry (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.