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MSMEs, which are currently recognised as growth driver of economy due to theirequal participation in the development of economy with the large industries. These units are providing employment to the millions in the country like India where unemployment and poverty are the main problems for living. India is an agricultural economy where most of the population is engaged in the agriculture and MSMEs are the second largest manpower employer after agriculture. Earlier these were known as Small Scale Industries and get transformed into MSMEs after the MSMED Act 2006. This paper highlights the contribution of MSMEs in the nation’s economy and related government programmes and schemes. This study shows that there is significant increase in the contribution of these units since last one decade. And the main contribution of these units towards the economy is the involvement and up liftment of rural areas.

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