Discuss the criteria of classification of the enterprises engaged in the manufacture of goods or in rendering services in micro, small and medium enterprises.

Section 7 of the Micro, Small & Medium Enterprises Development Act, 2006 empowers the Central Government to classify any class or classes of enterprises, whether proprietorship, Hindu undivided family, association of persons, co-operative society, partnership firm, company or undertaking, by whatever name called, - In the case of the enterprises engaged in the manufacture or production of goods pertaining to any industry specified in the First Schedule to the Industries Development & Regulation Act, 1951 as- a micro enterprise, where the investment in plant and machinery does not exceed twenty-five lakh rupees; a small enterprise, where the investment in plant and machinery is more than twenty-five lakh rupees but does not exceed five crore rupees; or a medium enterprise, where the investment in plant and machinery is more than five crore rupees but does not exceed ten crore rupees; In the case of the enterprises engaged in providing or rendering of services, as- a micro enterprise, where the investment in equipment does not exceed ten lakh rupees; a small enterprise, where the investment in equipment is more than ten lakh rupees but does not exceed two crore rupees; or a medium enterprise, where the investment in equipment is more than two crore rupees but does not exceed five crore rupees.