MSMEs to be classified based on new criteria from July

NEW DELHI: From July, over six crore micro, small and medium enterprises (MSMEs) across the country will be classified on .n the basis of the new criteria approved by the government.  ..

As per the revised criteria, a unit with Rs 50 crore of inve ..unit with Rs 50 crore of investment and Rs 250 crore of turnoverwill fall under the 'medium' enterprise category.

BBesides, a manufacturing and services unit with Rs 1 crore of investment and Rs 5 crore of investment of turnover will be classified as 'micro' whereas a unit inv ..a unit involving Rs 10 crore of investment and Rs 50 crore  ..Ministry officials said that the new definition will pave way for strengthening and growth of MSMes.

Also, a new composite formula of classification for manufact .of classification for manufacturing and services units has . Now, there will be no difference between the manufacturing .