“New definition is to benefit MSMEs directly and the change of criteria had been a long pending demand of MSMEs,” says Mr. Giriraj Singh,
Eyeing at encouraging the Micro, Small and Medium Enterprises (MSMEs) in the country, Minister of State (I/C) Giriraj Singh said that his office is committed at ensuring a stress-free ecosystem for the sector.
The Minister made these remarks during the 16th meeting of National Board for MSME in the national capital.
Singh further said that the meeting comes as an initiative to maintain a formal interaction between the office and the sector.
He also highlighted the recent steps taken by the government including the recent change in definition based on turnover.
“New definition is to benefit MSMEs directly and the change of criteria had been a long pending demand of MSMEs”.
Now the MSMEs don’t have to worry about inspector raj as new definition allows the unit to adopt machines and technologies.
The Minister also commented on the increased credit flow to the sector.
“For this year, we are targeting at meeting credit flow figure surpassing the figure that we were obtain in last three years cumulatively”, Singh added.