On 13-May-2020 when the Finance Minister announced stimulus package to the MSME, revised the definition of MSME based on investment and turnover. Following table reflect the new criteria, which was revised after almost after a decade. This is effective 1-Jul-2020.
After representation from various groups, today on 1-Jun-2020 the Composite criteria for Medium enterprise revised to
- Investment < 50 crores
- Turnover < 250 crores
Accordingly, the NEW revised composite criteria for the MSME is as follows:
Note: For the purpose of computing TURNOVER, the export turnover will not be counted to assess the limit. That means, more headroom for exporting MSMEs
This will bring in more units under the MSME definition and benefit them.
If the banks and financial institutions support the MSMEs at the right time, am sure the MSME sector will boom, create more employment and make the "vocal for local" a success.
An ICT based system will monitor and help the MSME to fulfill their dreams through a portal named CHAMPIONS, under the Ministry of MSME.
CHAMPIONS stand for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength.
To visit, click on CHAMPIONS
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