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Classification
An enterprise shall be classified as a micro, small or medium enterprise on the basis of the following criteria, namely: --
(i) a micro enterprise, where the investment in plant and machinery or equipment does not exceed one crore rupees and turnover does not exceed five crore rupees;
(ii) a small enterprise, where the investment in plant and machinery or equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees; and
(iii) a medium enterprise, where the investment in plant and machinery or equipment does not exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees.
Overview
MSME stands for Ministry of Micro, Small and Medium Enterprises. It was also known by the names of
Ministry of Small Scale Industries
Ministry of Agro and Rural Industries
The government of India with the ultimate aim of facilitating the ease of doing business in India and for nourishing the entrepreneurs has established a comprehensive system for micro, small and medium enterprises.
Main functions of the ministry are:
facilitation and credit flow to MSMEs
Improving the competitiveness of MSMEs
Improve manufacturing base through up-gradation of technology
Promotion of MSMEs through cluster bases approach
Marketing support to MSMEs
Skill development and entrepreneurship development training
Creation of new Micro Enterprises through Prime Minister’s Employment Generation Program (PMEGP)
Growth and development of Khadi and Village Industries (KVI) sector
Growth and development of Coir Industry
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