Question #71

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 one of the statements given above is/are correct?

1. 1 only

2. 2 only

3. Both 1 and 2

4. Neither 1 nor 2