Government raises MSMEs turnover limit
Part of: GS-Prelims and GS-III – Economy
- Several decisions were taken up by the Government recently which aimed at helping the MSMEs (Micro, Small and Medium Enterprises).
- The definition of MSMEs has further been revised.
- Those enterprises with investment upto 50 crore rupees and turnover of upto 250 crore rupees will now be able to avail the benefits of MSME sector.
- All export turnovers of such enterprises will also remain exempted from the total turnover.
- It will lead to inclusion of many industrial units.
- Distressed MSME fund of 20,000 crore has also been approved to help the enterprises in distress.
- This decision will benefit over 2 lakh units in the country.
- Fund of Funds with initial outlay of 50,000 crore rupees will also be created.
- The amount will be infused in the MSME sector through equity route.
- This will provide an opportunity to get listed in stock exchanges.