Tamilnadu Samacheer Kalvi 11th Commerce Notes Chapter 21 Micro, Small and Medium Enterprises (MSME) and Self Help Groups (SHGs) Notes

→ Entrepreneurship is a key for economic development of any country.

→ In accordance with the provisions of Micro, Small and Medium Enterprises Development Act 2006, the micro, small and medium enterprises are classified into two classes.

→ MSMEs play a complementary role to serve as a feeder to large scale industries.

→ MSME sector contributes towards the establishment of socialistic pattern of society by reducing the concentration of income and wealth.

→ MSMEs contribute 45% to the total manufacturing output and 40% to the exports from the country.

→ In Tamil Nadu MSMEs sector produces a wide variety of products in almost all fields.
→ Government of Tamil Nadu launched “New Entrepreneur-cum-Enterprise Development Scheme (NEEDS)” with a view to encouraging the educated youth to become the first generation entrepreneurs.

→ There are many Banks and Financial institutions which provide financial assistance to Micro Small and Medium Enterprises and start-ups.

→ MUDRA Bank will refinance to Micro-Finance Institutions through a Pradhan Mantri Mudra Yojana (PMMY).

→ Rural development is one of the main pillars of progress of India.

→ National Bank for Agricultural & Rural Development (NABARD) has defined Self Help Group as “a homogenous group of rural poor voluntarily formed to save whatever amount they can conveniently save out of their earnings and mutually agree to contribute to a common fund of the group to be lent to the members for meeting their productive and emergent credit needs”

→ The motto of every group members should be “saving first – credit latter”

→ Self Help Group holds weekly meetings mostly during non-working hours, and full attendance is made mandatory for better participation.

→ The five year plans of the government of India has given due recognition on the importance and the relevance of the Self-help group method to implement developmental schemes at the grassroots level.

Samacheer Kalvi 11th Commerce Notes

Leave a Reply

Your email address will not be published. Required fields are marked *