A revision in Micro Small and Medium Enterprises (MSME) definition was announced in the Atmnirbhar Bharat package on 13th May 2020. After the package was reported, several representations for upward revision of the MSME definition were made. Considering this, the Ministry of Micro, Small, and Medium Enterprises, vide its gazette notification dated 1st June 2020, has announced the upward definition and criteria of the MSME. The new report and criterion for MSME will come into effect from 1st July 2020, and the existing Definition of MSME will be valid up to 30th June 2020.
For more detail about MSME new definitions and rules, click here.