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Context: Recently, the Indian Prime Minister announced a number of measures to make it easier for micro, small and medium enterprises (MSMEs) to access credit.
What are Micro, Small and Medium Enterprises?
According to Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, there are two categories of MSMEs in the country – manufacturing and services. For the manufacturing sector, the definition of an MSME is based on a company’s capital investment in plant and machinery. For the services sector, the definition of an MSME is based on a company’s investments in equipment.
MSMEs in India: Statistics
Role of MSME in Indian economy
Issues/ Problems faced by MSMEs in India:
Legal provisions:
Steps taken:
Support and Outreach Initiative for MSME Sector:
Way Forward:
By: Priyank Kishore ProfileResourcesReport error
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