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Govt to further revise criteria for MSME definition, says Nitin Gadkari

Unveiling the contours of the Rs 20-trillion stimulus package, Finance Minister Nirmala Sitharaman had last last week announced a change in the definition of MSMEs

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“We have taken a decision to raise the up to Rs 20 crore investment (criteria) to up to 50 crore and turnover (limit) to up to Rs 200 crore. So we will issue an order for that,” Gadkari said.

Agencies New Delhi

3 min read Last Updated : May 20 2020 | 2:59 AM IST

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 Rs 50 crore and Rs 200 crore respectively, Union Minister Nitin Gadkari said on Tuesday.

Unveiling the contours of the Rs 20-trillion stimulus package, Finance Minister Nirmala Sitharaman had last last week announced a change in the definition of micro, small and medium enterprises (MSMEs).

According to the revised definition, any firm with investment up to Rs 1 crore and turnover under Rs 5 crore will be classified as “micro”. A

Topics : Coronavirus Nirmala Sitharaman Lockdown MSME sector Nitin Gadkari Indian Economy MSME definition Stimulus package India GDP growth

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