MSME UPSC Prelims MCQ's - Statement based Questions
Q:1: With respect to the MSME sector in India, consider the following statements:
The MSME sector contributes more than 30% to India's GDP.
The U
MSME UPSC Prelims MCQ's Statement-Based Questions: With respect to the MSME sector in India, consider the following statements: The MSME sector contributes more than 30% to India's GDP. The Udyam Registration Portal was launched to simplify the registration process for MSMEs. The MSME sector is primarily dominated by the service industry. Which of the statements is/are correct?
A) Only 1 and 2
B) Only 1 and 3
C) Only 2 and 3
D) All 1, 2, and 3 Answer: A) Only 1 and 2 Explanation:
Statement 1 is correct, as the MSME sector contributes significantly to India’s GDP. Statement 2 is correct because the Udyam Registration Portal was launched to streamline the registration process. However, Statement 3 is incorrect as the MSME sector is not primarily dominated by the service industry; it encompasses both manufacturing and services. With respect to the role of the Department for Promotion of Industry and Internal Trade (DPIIT), consider the following statements: DPIIT is responsible for formula…