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MSME definition further revised by Union Cabinet June, 2020

Subsequent to the revisions made in the definition of MSMEs during the INR 20 lakh crores economic package announcement made in May 2020, the government on Monday i.e. 01st June 2020 further revised the definition of MSMEs.

From now on, enterprises with investments up to INR 50 crore with a turnover of less than INR 250 crore will now be defined as ‘medium’ units. Whereas under the economic stimulus package, the revised definition for medium enterprises was kept at a turnover of INR 100 crore and investment up to INR 20 crores. Below is the tabular representation of the definition of MSMEs classification:

 

Micro Enterprises Enterprises with an investment less than INR 1 crore and turnover less than INR 5 crore turnover
Small Enterprises Enterprises with an investment less than INR 10 crore and turnover less than INR 50 crore turnover
Medium Enterprises Enterprises with an investment less than INR 50 crore and turnover less than INR 250 crore turnover

 

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