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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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