We all aware that the MSME sector is one the valuable and important sector in our country. Most of the employment generate from this sector. MSME Stand for Micro Small and Medium Enterprises which was formed in 2006 earlier this comes under Ministry of Industries ( SSI). Before 2006 MSME known as SSI ( Small Scale industries ) this department only cater Small Manufacturing Industries and give incentive to those sector only. After amendment in Rule 1961government change the definition of SSI and now service sector also comes under the SSI segment. In 2006 government has formed Micro Small Medium Enterprises regulate in Ministry of MSME.
Definition of MSME has been changed time to time, currently 2020 government modified Udyog Aadhaar Registration to Udhyam Registration and now Traders also can avail benefits of MSME’s.
Fisco Rating Agency Private Limited give a comprehensive Consultancy not restrict to give registration but we provide consultancy to the extent of the benefits of MSME Registered Enterprises. Which includes subsidies, low interest Loans or working capital funds, Without collateral working capital limits, PMEGP Scheme, Electricity Bill subsidies or relaxation, etc.
Definition of MSME is on the basis of Investment in Plant & Machinery and after 2020 amendment Turnover of the company or firm also play a vital role in the definition of the MSME. Earlier it was restricted only till the investment in plant and machinery of the company.
Currently the criteria to identify a MSME unit are as follows