MSMEs - GS questions based on daily current affairs

1)   Which of the following is/are true about the MSMEs?

1) All PSUs, central government ministries and departments have been directed to procure at least 30 per cent of products and services required by them from micro and small enterprises.
2) There are criteria of previous experience and prior turnover micro, small and medium startups.

a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2
Answer  Explanation 

ANSWER: Neither 1 nor 2

Explanation:

  • The Union government relaxed procurement norms related to experience and turnover for micro, small and medium start-ups with a view to enabling these ventures to be part of its public procurement.
  • From April 2015, all PSUs, central government ministries and departments have been directed to procure at least 20 per cent of products and services required by them from micro and small enterprises.
  • The move will enable start-up MSMEs to be a part of the mandatory 20 per cent public procurement.

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