SME Times News Bureau | 13 May, 2020
Finance Minister Nirmala Sitharaman on Wednesday announced 15 measures
to revive and support business under the mega stimulus package -- Self-Reliant
India Movement -- which was announced by Prime Minister Narendra Modi last
evening.
Giving detail about the measures, the minister said that six measures are
exclusively meant for the MSME sector, while the others pertain to real estate,
NBFCs and general businesses.
Attempts have also been made via these measures to decrease the regulatory
burden on companies, while increasing the take-home pay of employees.
For the MSME sector, the minister detailed six measures including the new
definition of the sector.
Accordingly, the investment limit for defining MSMEs has been revised upwards.
Besides, she highlighted that additional criteria such as turnover has been
considered for defining MSMEs.
The Centre has also decided not to go in for global bidding for government
procurement for tenders up to Rs 200 crore, thereby, promoting the
participation of MSMEs, she said.
Furthermore, e-market linkage for MSMEs will also be provided and that CPSEs
will pay all receivables to MSMEs within 45 days.