Govt to further revise criteria for classifying ‘medium’ enterprises under MSME definition
#GS3 #Economy
Days after changing the definition of MSMEs, the government has decided to further revise the criteria for medium units by enhancing the investment and turnover limits to up to ₹50 crore and ₹200 crore respectively.
Redefining MSMEs
- As per the revised definition, any firm with investment up to ₹1 crore and turnover under ₹5 crore will be classified as “micro”.
- A company with investment up to ₹10 crore and turnover up to ₹50 crore will be classified as “small” and a firm with investment up to ₹20 crore and turnover under ₹100 crore will be classified as “medium”.
- The previous criteria for classifying enterprises in the “medium” category was investment up to ₹10 crore and turnover of up to ₹5 crore.
