New Classification Of MSMEs Based On New Criteria

0
(0)

According to the Ministry of Micro, Small & Medium Enterprises on Wednesday told that from 1st July, a new classification of MSMEs which is based on new criteria that will be approved by the government.

As per the revised data, a unit of Rs. 50 crore of investment & Rs.250 crore turnover will be fall under the ‘medium’ enterprise category.

The revision has been announced in Atmnirbhar Bharat package on 13th May by Nirmala Sitharaman.

A new composite formula of classification for manufacturing & services units has been notified. As of now there will be no difference between manufacturing & service related industries.

MSME officials told that this new definition will pave way for strengthening & growth of MSMEs. The provision of excluding exports from the counting of turnover will encourage the MSMEs for exporting more & more with fear of loosing the benefits of MSME unit.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

As you found this post useful...

Follow us on social media!

Please follow and like us:

Joydeep

Leave a Comment