The correct answer is: b) Micro, Small and Medium Enterprises (MSMEs).
MSMEs are defined as enterprises with investment in plant and machinery up to Rs. 10 crore for manufacturing enterprises and Rs. 5 crore for service enterprises. They are the backbone of the Indian economy, accounting for over 90% of the total number of enterprises and over 60% of the total employment.
MSMEs play a crucial role in the Gujarat economy, contributing over 40% to the state’s GDP and employing over 70% of the workforce. The state government has been taking several initiatives to promote the growth of MSMEs, including providing financial assistance, infrastructure support, and training and development programs.
The other options are incorrect because:
- Option a) Medium and Small-Scale Enterprises is not a correct definition of MSMEs.
- Option c) Manufacturing Sector Monitoring Enterprises is not a type of enterprise.
- Option d) Multinationals and Start-up Enterprises are not included in the definition of MSMEs.