Question Bank - General Knowledge

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Till today, small scale and cottage industries are facing ______ problems.

A.
Raw material
B.
Sale
C.
High production cost
D.
All of the above

Solution:

The correct answer is All of the above.Industry refers to economic activity that is concerned with the production of goods, extraction of minerals, or the provision of services.Small Scale Industries are industries in which manufacturing, production, and rendering of services are done on small scale with an investment limit of up to Rs 5 crore.The cottage industry is a type of small scale industry where the products are manufactured by hand, by the artisans.In Small scale industries outside labour is used while in cottage industries, family labour is used.The major problems faced by the cottage and small-scale industries are:Limited availability of raw materialsNon-availability of timely and adequate credit.Lack of infrastructureTechnological obsolescenceHigh Production costMarketing and sale problemsCompetition with large-scale industries and imports.Excessive burden of local taxes

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