Micro Small and Medium Enterprises (MSME)

Micro Small and Medium Enterprises (MSME) – New Definition

Micro Small and Medium Enterprises (MSME) – New Definition

The Finance Minister redefined the MSME on the basis of investment limit and turnover size. Know here what all measures have been announced to boost MSME sector including its new definition and increased investment limits. As per the revised definition, any firm with investment up to Rs 1 crore and turnover under Rs 5 crore will be classified as "Micro". A company with investment up to Rs 10 crore and turnover up to Rs 50 crore will be classified as "Small" and a firm with investment up to Rs 20 crore and turnover under Rs 100 crore will be classified as "Medium".

In the revised definition, the investment limit has been revised upwards and an additional criterion of turnover has been introduced. The government has also done away with the distinction between manufacturing and services sector.

In order to redefine the MSME, government has taken following measures:

- Increased Investment Limit

- Introduced additional criteria of turnover

- Eliminated difference between Manufacturing & Service sector

- Amendments to law will be made

Here's a table with the existing definition of MSMEs and the revised definition announced by the government:

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