MSME - A STEP TOWARDS “ATMANIRBHAR
BHARAT ABHIYAN”
Amid the Coronavirus COVID-19 pandemic lockdown, Honourable Prime Minister Sh. Narendra Modi on Tuesday asserted
that India's self-reliance stands on five pillars. The pillars are the Economy,
Infrastructure, Technology-driven system, Vibrant demography and Demand.
Keeping
in view these five Pillars and Self-reliant India Mission which would cover “Land, Labour, Liquidity, and Laws”, Finance Minister
announced Rupees 20 Lakhs Crore Package. Focus of this Package was to Strengthen
our MSME Sector and Promote Local Products.
MSME Registration/Udyog Aadhar
Registration
The aim of Udyog Aadhar is to simplify
the process for the business owners to register their business under Micro
Small Medium Enterprise or MSME. Udyog
Aadhar is a government registration that is provided along with a recognition
certificate and a unique number [Udyog Aadhaar Memorandum No.
(UAM)] in order to certify small/medium businesses or enterprises. The
main motive to launch this facility is to offer a way to the government to
provide the maximum benefits to medium or small-scale businesses or industries
in India, who are registered via MSME. Now, it has become one of
the main requirements to resume your business in the phase of COVID-19 during
the lockdown.
Recently, Ministery of Micro, Small & Medium Enterprises,
Govt. of India, launched a web portal for MSME Bank of Schemes, Ideas,
Innovations & Research. Union Minister Sh.Nitin Gadkari said that his vision
is to increase MSMEs contribution to India’s GDP to over 50% from the current
29% and Exports’ contribution which currently stands at 50% from the sector
will be increased to 75%.
Contirbution of MSME in Indian Economy
- MSME’s contribute Approx. 29.7% of GDP and 49.66% of Indian Exports.
- Estimated Employment (number of persons) generated in micro enterprises during the year 2018-19 was 5.87 Lakhs
- Estimated number of workers in unincorporated non-agriculture MSMEs in the country are 11.10 crore
Revised Definition of MSME
Sector
|
Manufacturing
|
Service
Enterprises
|
||
Existing
|
Revised
|
Existing
|
Revised
|
|
Micro
Enterprises
|
Investment<25Lac
|
Investment<1Cr.
And
Turnover<5Cr.
|
Investment < 10Lac
|
Investment<1Cr.
And
Turnover<5Cr.
|
Small
Enterprises
|
Investment < 5Cr.
|
Investment<10Cr.
And
Turnover<50Cr.
|
Investment < 2Cr.
|
Investment<10Cr.
And
Turnover<50Cr.
|
Medium
Enterprises
|
Investment < 10Cr.
|
Investment<20Cr.
And
Turnover<100Cr.
|
Investment < 5Cr.
|
Investment<20Cr.
And
Turnover<100Cr.
|
Reforms by Indian Government for MSME
Sector
1.
Rupees 3 Lakh Crore Collateral
free automatic loans for MSME’s.
Ø
Emergency credit line to MSME from banks and
NBFC’s upto 20% of entire outstanding credit as on 29.02.2019
Ø
Loan to have 4 year tenure with moratorium of
12 Months on Principal Repayment
Ø
Interest to be capped.
Ø
Borrowers with upto Rs. 25 Crore Outstanding
and Rs 100 Crore Turnover is eligible to avail the facility.
Ø
100% Guarantee on principal and interest
borne by Government.
Ø
Scheme can be availed till 31st
October 2020.
2.
Rupees 20000 Crore Subordinate
Debt for stressed MSME’s
3.
Rupees 50000 Crore Equity
infusion for MSME’s through Fund of Funds
4.
E-Market linkage for MSME’s to
promote Trade
5.
MSME receivables from Government and PSU’s to
be released in 45 days
6.
Tenders upto Rs. 200
Crores not considered as Global Tenders.
REMEMBER !!!
SOCIAL DISTANCING
AAROGYA SETU APP
STAY HOME STAY SAFE
AAROGYA SETU APP
STAY HOME STAY SAFE
Thanks
& Regards :
CS Ashish Goyal [ACS,
CA-Inter, M.COM]
CA Gauri
Goyal [ACA, M.COM]
For Any Query please visit : www.csashishgoyal.com or call : +91
89501-70702
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