home
contact
FAQs
corporate login
 
         
 
 
       
 
 
home >> entrepreneur zone >> msmed classification
MSMED CLASSIFICATION
THE MICRO, SMALL & MEDIUM ENTERPRISES DEVELOPMENT (MSMED) ACT, 2006 BECOMES OPERATIONAL FROM 2 OCTOBER 20006
Heralding the commencement of renewed efforts for facilitating promotion and development and enhancing the competitiveness of micro, small and medium enterprises
NEW NOMENCLATURE AND CLASSIFICATION OF MSME
Salient Features
Definitions Memorandum Statutory Frame
Defines “Enterprise” instead of “Industry” to give due recognition to the Service Sector.
Pride of place to Micro Enterprises.
Investment ceiling for Manufacturing Small Enterprises raised to Rs 5 Crore.
Defines “Medium Enterprises” to facilitate technology upgradation and graduation.
Two-stage registration process of SSI substituted with optional filing of memorandum with District Industries Centres (DICs)by all micro and small enterprises.
Filing of memorandum by Medium enterprises rendering services also optional.
Filing of memorandum by manufacturing medium enterprises with District Industries Centres ( instead of the Central Government).
Provides statutory basis (legally enforceable) to Procurement Preference Policies of Central & State Govts. for goods & Services provided by micro & small enterprises.
Strengthens the legal provisions to check delayed payment to micro and small enterprises.
Representatives of enterprises Associations included in the MSE Facilitation Councils for adjudicating on cases of delayed payment.
Provision for ensuring timely and smooth flow of credit to MSMEs.
All Schemes/Programmes of assistance being notified under the Act.
Provides for a statutory National Board for Micro, Small & Medium enterprises to advise the Central Government on matters under the Act.
Ministry of Small Scale Industries and Ministry of Agro & Rural Industries Government of India
 
Download SME Act 2006 . . . .
 
 
 
 
© 2006, WBIDC
Powered by WDC