New Defination of MSME
Low threshold in MSME definition have created a fear among MSMEs of graduating out of the benefits and hence killing the urge to grow.
• There has been a long-pending demand for revisions.
Announcement:
• Definition of MSMEs will be revised
• Investment limit will be revised upwards
• Additional criteria of turnover also being introduced.
• Distinction between manufacturing and service sector to be eliminated.
• Necessary amendments to law will be brought about.
Source Finance Minister PIB 13th May 2020
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