4.5/5
World MSME Day: 27 June
World MSME Day: 27 June
Theme: "Human-Centered Entrepreneurship in an AI-Driven Future: Economic Empowerment for the Next Generation of MSMEs."
About MSMEs
As per the provisions of the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, MSMEs in India are classified based on investment in plant and machinery and annual turnover.
1.Micro Enterprise
Theme: "Human-Centered Entrepreneurship in an AI-Driven Future: Economic Empowerment for the Next Generation of MSMEs."
About MSMEs
As per the provisions of the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, MSMEs in India are classified based on investment in plant and machinery and annual turnover.
1.Micro Enterprise
- Investment in plant and machinery: Not exceeding ₹2.5 crore
- Annual turnover: Not exceeding ₹10 crore
2.Small Enterprise
- Investment in plant and machinery: Not exceeding ₹25 crore
- Annual turnover: Not exceeding ₹100 crore
3.Medium Enterprise
- Investment in plant and machinery: Not exceeding ₹125 crore
- Annual turnover: Not exceeding ₹500 crore
Government Initiatives for MSMEs
PM Vishwakarma Scheme:
Announced in the Union Budget 2023–24, the Scheme aims to enhance the quality, scale, and market integration of products and services offered by artisans and craftspeople (Vishwakarmas) by linking them to domestic and global value chains.
Udyam Registration Portal
PM Vishwakarma Scheme:
Announced in the Union Budget 2023–24, the Scheme aims to enhance the quality, scale, and market integration of products and services offered by artisans and craftspeople (Vishwakarmas) by linking them to domestic and global value chains.
Udyam Registration Portal
- Launched on 1 July 2020, the Udyam Registration Portal provides a free, paperless, and self-declaration-based registration mechanism for MSMEs, encouraging formalisation.
- The portal enables seamless migration from Udyog Aadhaar Memorandum and Entrepreneurship Memorandum-II, without requiring document uploads, thereby simplifying compliance
Udyam Assist Platform: To integrate informal micro-enterprises, the Udyam Assist Platform was launched in November 2023, enabling access to benefits such as Priority Sector Lending.
Prime Minister’s Employment Generation Programme (PMEGP):
PMEGP is a credit-linked subsidy scheme aimed at promoting self-employment through the establishment of micro-enterprises in the non-farm sector.
Scheme of Fund for Regeneration of Traditional Industries (SFURTI):
Launched in 2005–06, SFURTI seeks to organise traditional artisans into clusters to promote product development, diversification, value addition, and sustainable income growth.
Budgetary Expansion: Government expenditure on the MSME sector rose sharply from ₹6,717 crore in 2019–20 to ₹23,168 crore in 2025–26, reflecting stronger policy focus and financial commitment
Prime Minister’s Employment Generation Programme (PMEGP):
PMEGP is a credit-linked subsidy scheme aimed at promoting self-employment through the establishment of micro-enterprises in the non-farm sector.
Scheme of Fund for Regeneration of Traditional Industries (SFURTI):
Launched in 2005–06, SFURTI seeks to organise traditional artisans into clusters to promote product development, diversification, value addition, and sustainable income growth.
Budgetary Expansion: Government expenditure on the MSME sector rose sharply from ₹6,717 crore in 2019–20 to ₹23,168 crore in 2025–26, reflecting stronger policy focus and financial commitment
0 like |
0 comment
