Small Business and Entrepreneurship · Class 11 · CBSE · Commerce Business Studies
Which of the following bodies was set up in 2007 by the Government of India by merging the erstwhile Ministry of Small Scale Industries and the Minis…
Practice question from Small Business and Entrepreneurship (Class 11 · CBSE · Commerce Business Studies), with the correct answer and a step-by-step solution.
medium · MCQ · Q-9E2844
Which of the following bodies was set up in 2007 by the Government of India by merging the erstwhile Ministry of Small Scale Industries and the Ministry of Agro and Rural Industries?
- A.Ministry of Commerce and Industry
- B.Ministry of Micro, Small and Medium Enterprises (MSMED)Correct answer
- C.National Small Industries Corporation (NSIC)
- D.District Industries Centre (DIC)
Solution
The Ministry of Micro, Small and Medium Enterprises (MSME) was formed in May 2007 by merging the Ministry of Small Scale Industries and the Ministry of Agro and Rural Industries to promote and develop MSMEs in India.
More from Small Business and Entrepreneurship
- According to the MSMED Act, 2006 (with subsequent updates), how are manufacturing and service enterprises classified primarily?
- What is the primary role of the District Industries Centre (DIC) at the district level in India?
- Which institution was established by the Government of India in 1955 with a view to promoting, aiding and fostering the growth of small bus…
- Explain the concept of 'Entrepreneurship' as distinct from mere 'management'.
Practise more Business Studies
Sign up free for adaptive practice on this chapter, with instant feedback and hints on every question.
Start practising freeFree to start · No credit card needed