Categories: Business

Definition of MSMEs gets a revision investment limit to be revised upwards, change in definition of MSMEs

Photo: PTI / FILE

Change in definition of MSMEs, know what are the new rules?

new Delhi: The criteria for Micro, Small and Medium Enterprises (MSMEs) in the country have changed. The Finance Ministry gave its information on Wednesday. Now all enterprises with less than 1 crore investment and less than 5 crore turnover will be called micro enterprises whereas till now manufacturing enterprises with less than 25 lakh investment and service enterprises with less than 1 million investment were considered as micro enterprises.

Similarly, now all enterprises with less than 10 crore investment and less than 50 crore turnover will come under the purview of small enterprise whereas till now manufacturing enterprises with less than 5 crore investment and service enterprises with less than 2 crore investment were considered as small enterprises. . Explain that earlier the government had not set any criteria for turnover for MSMEs, but now it has been added.

According to the Ministry of Finance, now they have been placed in medium enterprise, whose investment is less than 20 crore and turnover is less than 100 crore whereas so far, manufacturing enterprises with less than 10 crore investment and service enterprises with less than 5 crore investment are classified as medium enterprises. has gone.

This post was published on May 13, 2020 5:51 pm

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