Describe the functions of the National Board for Micro, Small and Medium Enterprises under the Micro, Small and Medium Enterprises (MSME) Development Act, 2006.

Section 5 of the Micro, Small and Medium Enterprises Development Act, 2006 empowers the National Board for Micro, Small and Medium Enterprises subject to the general directions of the Central Government to, perform all or any of the following functions, namely: Examine the factors affecting the promotion and development of micro, small and medium enterprises and review the policies and programmes of the Central Government in regard to facilitating the promotion and development and enhancing the competitiveness of such enterprises and the impact thereof on such enterprises; Make recommendations on matters referred to above or on any other matter referred to it by the Central Government which, in the opinion of that Government, is necessary or expedient for facilitating the promotion and development and enhancing the competitiveness of the micro, small and medium enterprises; and Advice the Central Government on the use of the Fund or Funds constituted under Section 12 of the Act.