Correct option is B
The correct answer is: (b) ₹5 lakh
Explanation:
· As per the Industrial Policy Resolution of 1950, small-scale industries (SSIs) were defined based on capital investment.
· In 1950, an SSI was one where the investment in fixed assets did not exceed ₹5 lakh.
Information Booster:
· The definition was revised several times with inflation and industrial changes.
· SSI was later replaced with MSMEs (Micro, Small, Medium Enterprises).
· Investment limit is now classified under MSMED Act, 2006.
· New criteria include both investment and turnover.
· SSIs play a major role in employment generation in rural India.
Additional Information:
· ₹8 lakh/₹7 lakh/₹6 lakh: These figures were not used in the original 1950 classification.
· The ₹5 lakh limit remained valid till revised through Industrial Policies in later years.
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