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The correct answer is option 4: all three statements are correct.
Statement 1 is true as the MSME sector is a significant contributor to the Indian economy and provides a large number of employment opportunities. These enterprises are known for creating jobs at a faster rate compared to large industries.
Statement 2 is true as MSMEs typically have lower capital requirements compared to larger enterprises. They often operate in rural or backward regions, promoting industrialization and economic development in these areas.
Statement 3 is true as MSMEs play a crucial role in promoting socio-economic development. They contribute to income generation, poverty alleviation, and inclusive growth by providing employment opportunities to people from various socio-economic backgrounds.
In conclusion, all three statements are correct, highlighting the positive impact of MSMEs on the Indian economy, employment generation, and socio-economic development.