Which of the following partly defines the micro-enterprise in India?
Detailed Explanation:
Under the MSME Act (revised 2020), a micro-enterprise is defined by two criteria: investment in plant and machinery/equipment not exceeding Rs. 1 crore and annual turnover not exceeding Rs. 5 crore.
Option 3 correctly states the investment threshold of Rs. 1 crore. Option 1 incorrectly mentions turnover of Rs. 15 crore (actual: Rs. 5 crore), and Option 2 incorrectly states investment of Rs. 1.5 crore (actual: Rs. 1 crore).
Therefore, only Option 3 correctly defines a micro-enterprise, making it the correct answer.
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