Explanation:

- The Micro, Small and Medium Enterprises Development Act is a key legislation in India that focuses on the growth and regulation of micro, small, and medium enterprises.

- Option 1: 2008 - This is incorrect because the Act was passed earlier than this year.

- Option 2: 2007 - This is incorrect. The Act was already in effect before this year.

- Option 3: 2004 - This is also incorrect as it predates the actual year the Act was passed.

- Option 4: 2002 - This is not the right option, as it was not the year the Act was established.

The correct answer is Option 2: 2006. Therefore, .