Cabinet decisions for farmers, MSMEs, poor: Key points

Jun 1, 2020

Union ministers Nitin Gadkari (left) and Prakash Javadekar briefing media on Caninet decisions. (Photo: ANI)

NEW DELHI: The Union Cabinet on Monday formulated the roadmap for implementing the measures related to farmers, MSMEs (micro, small and medium enterprises) and others, as announced in the governments’ Atma Nirbhar Bharat package.
Addressing the media, Union ministers Prakash Javadekar and Nitin Gadkari said that the measures will improve ease of doung business, attract investments and create jobs.
Here are the key points from the briefing:
* MSME definition has been further amended since announcement of the Aatma Nirbhar Bharat package. The turnover limit for medium enterprises has been revised upward to Rs 250 crore (from Rs 100 crore as announced earlier): Javadekar
* It is notable that the new MSME definition is being brought about 14 years after MSME Development Act, 2006: I&B minister
* Based on feedback received after announcement of the package, turnover limit for medium enterprises has been further amended to Rs 250 crore and investment limit further raised to Rs 50 crore: Javadekar
* Cabinet has approved Rs 20,000 crore subordinate debt for stressed MSMEs, will benefit 2 lakh stressed MSMEs: Javadekar
Cabinet has approved Rs 50,000 crore equity infusion for MSMEs, this will strengthen their growth potential and will enable them to get listed on stock exchanges, this is for the first time MSMEs are getting such support: Javdekar
* MSMEs play a crucial role in the building of a self-reliant India. Hence, it has been made an important part of the Atma Nirbhar Bharat package: Javadekar
* Cabinet has approved MSP for 14 kharif crops; farmers to get 50-83% more than cost: I&B minister

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