New Definition of MSMEs
• Low threshold in MSME definition has created a fear among MSMEs of graduating out of the benefits and hence killing the urge to grow
• There has been a long-pending demand for revisions.
Definition of MSMEs will be revised
Investment limit will be revised upwards
Additional criteria for turnover also being introduced
The distinction between the manufacturing and service sector to be eliminated.
Necessary amendments to the law will be brought about.