Micro, Small and Medium Enterprises (MSME)

 Definition

• MSME definition was announced in the Atmnirbhar Bharat package on 13th May, 2020. 
• As per this announcement, the definition of Micromanufacturing and services units was increased to Rs. 1 Crore of investment and Rs. 5 Crore of turnover. 
• The limit of the small unit was increased to Rs. 10 Crore of investment and Rs 50 Crore of turnover. 
• Similarly, the limit of the medium unit was increased to Rs. 20 Crore of investment and Rs. 100 Crore of turnover.
• For medium Enterprises, now it will be Rs. 50 Crore of investment and Rs. 250 Crore of turnover.

Ministry of MSME has reiterated that it has put in place a very strong handholding mechanism for MSMEs and new entrepreneurs in the name of Champions (www.champions.gov.in) which was recently launched by the Prime Minister.

Source:

• https://msme.gov.in