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Definition of MSME revised

Blog: NASSCOM Official Blog

On 13th May, the Finance Minister made the first set of announcements, on the economic package. The measures focused on providing much needed liquidity infusion, esp for the MSME sector.

As a part of these announcements, definition of MSMEs was changed. India, till then, defined MSMEs based on investment in plant and machinery. Also, the limit was seen too low. with many small companies being left out of the definition. The change in definition was to address this.

The new definition announced is based on investment in plant/machinery and Turnover.  Further,  No distinction in definition for manufacturing and service enterprises. The new definition announced is below.

A second revision of the turnover limit was announced on 1st June. The new definition is below.

The post Definition of MSME revised appeared first on NASSCOM Community |The Official Community of Indian IT Industry.

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