Sweden defines a small business is that it should have not have a turnover exceeding 5 million Euros. On the other hand India's definition of an MSME is one based on fixed investment in equipment. Comparing a Swedish small business to an Indian one is like comparing meatballs with dosa.
For the PMJDY to be successful, expanding social insurance and assistance will be the lower hurdle, and creating jobs by extending banking facilities to more micro enterprises will be the larger challenge.
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