Quick Summary
Year 2020 marked by several pathbreaking initiatives in MSME Sector Rs 10000 crore Fund of Funds Scheme Launched to leverage equity infusion of Rs 50000 crore MSME definition broadened to enable them grow bigger; registration made simple through Udhyam Champions Portal based on ICT operationalised to help MSMEs utilise opportunities Year End Review-2020 The Ministry of Micro, Small and Medium Enterprises (MSME) has undertaken several path-breaking/ important initiatives during the
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FAQ :
The Ministry launched a Rs 10,000 crore 'Fund of Funds Scheme' (Self-Reliant India Fund) aimed at leveraging equity infusion of Rs 50,000 crore for MSMEs.
The definition was broadened to include a composite criteria based on investment in plant & machinery/equipment and turnover. This new definition came into effect from 1st July 2020.
The 'Udyam' registration portal is an online platform launched by the Ministry to simplify the registration process for MSMEs, replacing the previous Udyog Aadhaar Memorandum.
The CHAMPIONS portal is an ICT-based system designed to help and handhold MSMEs, providing solutions to their issues and guidance for new business opportunities.
The 'Distressed Assets Fund - Subordinate Debt for MSMEs' was launched with Rs 4,000 crore government assistance to provide Rs 20,000 crore as subordinate debt for equity support to stressed MSMEs.
Micro enterprises have investment up to ₹1 crore and turnover up to ₹5 crore. Small enterprises have investment up to ₹10 crore and turnover up to ₹50 crore. Medium enterprises have investment up to ₹50 crore and turnover up to ₹250 crore. Turnover from exports is not counted.
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