You are here: Home > MSME

09/05/2022 03:29pm

Govt plans periodic updation of capital investment criteria for MSMEs definition

image Govt plans periodic updation of capital investment criteria for MSMEs definition

New Delhi, May 9 (KNN) To make capital investment criteria to qualify as micro, small and medium enterprises (MSMEs) more realistic and aligned with changing inflation levels the MSME Ministry is planning to revise the norm every three or five years.

As per Mint, the ministry is planning to include the proposal in the upcoming MSME policy and will send it for cabinet approval once the policy is final.

FOLLOW US on GOOGLE NEWS

For revising the investment-based definition of MSMEs at regular intervals there is no provision in the Micro Small and Medium Enterprises Development Act, 2006.

After the amendment of the MSMED Act the union government will be authorised to change the qualification norms at frequent intervals through notifications.

In an endeavour to bring uniformity in laws in the MSME sector the government is also considering of drafting a model law on the MSME sector for circulation among states.  (KNN Bureau)

Share

Related Articles

Comments

  1. Pradeep
    Pradeep 10/05/2022 6:37 AM

    Similarly the turnover criteria should also be increased because in the last 2/3 years the price of Raw material has been more than doubled.

    Reply to this comment

Write a Comment

Your email address will not be published.
Required fields are marked *