The Government will change the definition of MSME, benefit to 2 million businesses

The government is going to change the definition of micro, small and media enterprises (M. S. M. E.). Now the plant and was determined based on the category of entrepreneurs to invest in machinery, but now will decide the category on the basis of annual business. The government bill associated with it is introduced in Parliament. This will benefit more than 20 million modern entrepreneurs. New entrepreneur GM. FIG. GM. E. Will be able to take advantage of. Micro, Small and Industry Ministry official media that modern entrepreneurs are more investment in plant and machinery. Despite this being the business they are out of the range of small entrepreneurs. They do not get the benefits being given to small enterprises by the government. 20 thousand units will be out of this range because of low investment in plant and machinery, but the turnover has more. Advantages of these enterprises will be closed in the name of the small industry. According to the Ministry about 2 million enterprises has been given to the Ministry by the number based industry. Under the new definition by the government will be in the medium range business from 5 million to entrepreneurs, micro and annual turnover of up to Rs 5 crore from 75 million small and 75 million businesses worth up to Rs 250 crore. The new definition has already passed in the cabinet, only the approval of Parliament.
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