EXISTING SMALLER MSMEs WERE LET DOWN, WILL GET EVEN LESS
NEW DEFINITION TO GIVE MORE TO THOSE WHO WERE NOT MSMEs
2020-06-03 08:54
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The announcement of the Rs 3 lakh crore relief package to the Micro, Small & Medium Enterprises (MSMEs) of India had created a hope, but the change in definition has induced a frustration. It is now clear that the entire amount of the package was not meant for the existing MSMEs, but a major chunk was intended to be given to bigger enterprises, who are now included in MSMEs by changing the very definition. The existing MSMEs are thus let down by the government and will get less than that of the originally announced amount of relief.