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Micro, small and medium enterprises (MSMEs) are the backbone of India’s industrial economy. MSMEs not only play a crucial role in providing large employment opportunities, at comparatively lower capital cost than large industries, but also help in industrialization of rural and backward areas, thereby reducing regional imbalances, and assuring more equitable distribution of national income and wealth. MSMEs are complementary to large industries as ancillary ...
After the initiation of economic reforms in 1991, the Indian economy has been growing faster than its historical growth rate. Tenth Five Year Plan (2002-07) recorded annual growth rate of 7.2 percent and the underway Eleventh Five Year Plan (2007-12) aims to achieve 9.0 percent growth rate per annum. However, the pattern of economic reforms over the last 20 years has left in its trail a variety of inequalities which have caused socio-politico tensions. Some ...