The correct answer is (a) ` 10 lakhs.
The Micro, Small and Medium Enterprises Development Act, 2006 (MSME Act) defines a micro enterprise as an enterprise with investment in plant and machinery not exceeding 10 lakhs or investment in equipment not exceeding 5 lakhs, whichever is higher.
The Act also provides for a number of benefits and concessions to micro enterprises, such as exemption from income tax, access to credit, and government support for technology upgradation.
The MSME Act is an important piece of legislation that has helped to promote the growth of micro enterprises in India. The Act has also helped to improve the competitiveness of micro enterprises in the global market.
The other options are incorrect because they do not reflect the investment limit for micro enterprises as provided for in the MSME Act.