{"id":31013,"date":"2020-06-02T06:50:36","date_gmt":"2020-06-02T06:50:36","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=31013"},"modified":"2020-10-14T06:52:31","modified_gmt":"2020-10-14T06:52:31","slug":"cabinet-approved-changes-in-definition-of-msmes","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/cabinet-approved-changes-in-definition-of-msmes\/","title":{"rendered":"Cabinet approved changes in definition of MSMEs"},"content":{"rendered":"\n<p>The Union cabinet has approved further changes to the definition of micro, small and medium enterprises, a Rs 20,000-crore fund to provide equity support to stressed entities in the sector, and equity infusion of Rs 50,000 crore into MSMEs through a fund of funds.<\/p>\n\n\n\n<p>As per the new definition, MSMEs with an investment of Rs.1 crore and turnover of Rs.5 crore will be classified as micro-units.<\/p>\n\n\n\n<p>Units with an investment of Rs.10 crore and turnover of Rs.50 crore will be classified as small units.<\/p>\n\n\n\n<p>Units with an investment of Rs.50 crore and turnover of Rs.250 crore will be classified as medium units.<\/p>\n\n\n\n<p>According to the new definition, exports will not be excluded from the turnover cap.<\/p>\n\n\n\n<p>GoI has formulated the roadmap for implementing various measures for the MSME sector, as announced in the Atmanirbhar Bharat package.<\/p>\n\n\n\n<p>The measure aims to improve the ease of doing business, attract investment, and generate new job opportunities across the country.<\/p>\n\n\n\n<p>Union Cabinet also approved a provision for more loans of up to Rs.10,000 for street vendors. It is expected that this would benefit 5 million vendors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Union cabinet has approved further changes to the definition of micro, small and medium enterprises, a Rs 20,000-crore fund to provide equity support to stressed entities in the sector, and equity infusion of Rs 50,000 crore into MSMEs through a fund of funds. As per the new definition, MSMEs with an investment of Rs.1 [&hellip;]<\/p>\n","protected":false},"author":404,"featured_media":31014,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1174],"tags":[],"offerexpiration":[],"class_list":["post-31013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-june-2020"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/31013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/404"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=31013"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/31013\/revisions"}],"predecessor-version":[{"id":31015,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/31013\/revisions\/31015"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/31014"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=31013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=31013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=31013"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=31013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}