The revised investment and turnover criteria for micro, small and medium enterprises (MSMEs), effective from April 1, is expected to offer greater opportunities for growth and expansion, resulting in increased job creation, according to experts.
Under the revised criteria, the investment and turnover limits for classification of all MSMEs will be enhanced to 2.5 and 2 times, respectively.
The growth of MSMEs is expected to boost employment creation.
During her Budget speech, Union Finance Minister Nirmala Sitharaman had announced new classification criteria for MSMEs.