Consider the following statements with reference to India : 1. According to the 'Micro, Small and Medium Enterprises Development (MSMED) Act, 2006', the 'medium enterprises' are those with investments in plant and machinery between ₹ 15 crore and ₹ 25 crore. 2. All bank loans to the Micro, Small and Medium Enterprises qualify under the priority sector. Which of the statements given above is/are correct?
a
1 only
b
2 only
c
Both 1 and 2
d
Neither 1 nor 2
Industrial SectorMSME Classification and Priority Sector LendingMicro, Small and Medium Enterprises Development (MSMED) Act, 2006medium enterprisesinvestment in plant and machinerypriority sector