Government changes Definition of MSME

The Ministry of Micro, Small & Medium Enterprises has once again changed the definition of MSME. Before this, the change in definition was made while the Finance Minister announced the ‘Atmanirbhar Bharat Package’.
The definition of MSME is now based on “Investment (Capital) And Annual Turnover”
The new and old definition of MSME is mentioned below:
The turnover with respect to exports will not be counted in the limits of turnover for any category of MSME units whether micro, small or medium. This will help in attracting investments and creating more jobs in the MSME sector.
The government has made the following approvals related to MSME sector:
Provisioning of Rs 20,000 crore as subordinate debt to provide equity support to the stressed MSMEs. This will benefit 2 lakh stressed MSMEs.
Equity infusion of Rs. 50,000 crore for MSMEs through Fund of Funds (FoF).