Government raises MSMEs turnover limit

  • IASbaba
  • June 2, 2020
  • 0
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Government raises MSMEs turnover limit

Part of: GS-Prelims and GS-III – Economy

In News:

  • Several decisions were taken up by the Government recently which aimed at helping the MSMEs (Micro, Small and Medium Enterprises). 

Key takeaways 

  • 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. 

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