MSME stands for Micro, Small, Medium Enterprise. In developing countries like India, the MSME industry is the economic backbone.
MSME has become the center of attraction for almost everyone including the Government of India. In a bid to make the Indian economy more self-reliant the government has announced a relief package of INR 3 Lakh crore and various other tax & compliance regulations for Online MSME Registration in India.
Various relief measure announced by the government are:
Revised MSME Classification:
MANUFACTURING & SERVICES [Investment & Turnover criteria]
Micro-Enterprise
Investment < 1 Crore & Turnover < 5 Crore
Small Enterprise
Investment < 10 Crore & Turnover < 50 Crore
Medium Enterprise
Investment < 20 Crore & Turnover < 100 Crore
Collateral Free Loans
No guarantee fees & No fresh collateral required
Repayment of loans- 4 year tenor with 1 year moratorium period.
Estimated 45 Lakh units will resume their business activities & functions.
Stressed MSMEs will be given special attention.
NPA or Stressed MSME’s are eligible for special attention
Government support to CGTMSE worth Rs. 4000 Crore.
Promoters of MSME will be given a loan, which will then be infused as equity in the MSME unit.
Estimated 20 Lakh debt-ridden MSME’s will be benefited.
Equity infusion for MSME worth Rs. 50,000 Crore.
MSME’s having a sense of growth potential & viability will be offered equity funding support.
Fund of funds [FOF] will be set up worth Rs. 10,000 Crore.
These FOF’s will help MSME’s to expand and get listed on stock exchanges.
Various schemes induced by the Government of India for the betterment of MSME sector in India are: Micro unit development & refinancing agency Ltd. [MUDRA], National Manufacturing policy [NMP], Prime Ministers Employment generation program [PMEGP], Credit Guarantee Trust Fund for Micro & Small Enterprises [CGTMSE], Interest Subsidy scheme
These are some of the benefits which the government is giving to the new MSME registration in India which will help the MSME sector to grow.
The micro, small, and medium-sized enterprises (MSME) sector is one of India's still untapped high growth markets and an important partner for socio-economic development. MSME scattered across both the country's urban and rural areas are largely part of the unorganized market.
The MSME sector consists of 51 million units providing jobs for over 117 million people according to current estimates.
CAonWEB brings in the most awaited platform with most experienced professionals on-board to help our clients in their online MSME registration. We will help you in leveraging all the benefits offered by the Government of India to promote MSME business environment.
We at CAonWEB have a full fleet of online registered chartered accountants across India and we provide a one-stop solution to all the financial & compliance services for online MSME registration in India.
With CAonWEB you can find the chartered accountant across India and have the option to book an appointment & avail their service online.
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