Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
$response = object(Cake\Http\Response) {

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-The Indian Express&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;A change in definition is expected to improve their ease of doing business and help create more jobs. &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
It has been reported that the government will soon change the way it defines the micro, small and medium enterprises (MSMEs). &amp;ldquo;We will have one meeting and then finalise it (changes to MSME definition),&amp;rdquo; Union Minister Nitin Gadkari told news agency PTI, adding that extensive changes will be made soon. In August, Finance Minister Nirmala Sitharaman had said that the government would consider shifting to a &amp;ldquo;single definition&amp;rdquo; of MSMEs. The change in definition would require an amendment to the MSME Development Act. In February last year, the Union Cabinet had approved amendments to the MSMED Act and had decided to choose shift from a criterion of classifying MSMEs based on &amp;lsquo;investment in plant and machinery&amp;rsquo; to a criterion based on &amp;lsquo;annual turnover&amp;rsquo;.&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;What is the importance of the MSME sector?&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
According to a Reserve Bank of India report, the MSMEs are amongst the strongest drivers of economic development, innovation and employment. Looking back at data since 2000-01, MSME sector growth has almost every year outstripped overall industrial growth in the country.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;The MSME sector also contributes in a significant way to the growth of the Indian economy with a vast network of about 63.38 million enterprises. The sector contributes about 45% to manufacturing output, more than 40% of exports, over 28% of the GDP while creating employment for about 111 million people, which in terms of volume stands next to agricultural sector,&amp;rdquo; stated the report.&lt;br /&gt;
&lt;br /&gt;
However, the RBI report also noted that at present the sector is &amp;ldquo;exceedingly heterogeneous in terms of size of the enterprises and variety of products and services, and levels of technology employed&amp;rdquo; and that it has the potential to grow at a much faster rate. One of the key attractions of this sector is that it huge employment generation potential at relatively lower capital investment.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://indianexpress.com/article/explained/explained-why-the-govt-want-to-change-the-definition-of-msmes-6083885/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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&lt;br /&gt;
&lt;em&gt;What is the importance of the MSME sector?&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
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-The Indian Express

A change in definition is expected to improve their ease of doing business and help create more jobs. 

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                <strong>Explained: Why the govt wants to change the definition of MSMEs -Udit Misra</strong></h1>
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                <div align="justify">-The Indian Express<br /><br /><em>A change in definition is expected to improve their ease of doing business and help create more jobs. <br /></em><br />It has been reported that the government will soon change the way it defines the micro, small and medium enterprises (MSMEs). &ldquo;We will have one meeting and then finalise it (changes to MSME definition),&rdquo; Union Minister Nitin Gadkari told news agency PTI, adding that extensive changes will be made soon. In August, Finance Minister Nirmala Sitharaman had said that the government would consider shifting to a &ldquo;single definition&rdquo; of MSMEs. The change in definition would require an amendment to the MSME Development Act. In February last year, the Union Cabinet had approved amendments to the MSMED Act and had decided to choose shift from a criterion of classifying MSMEs based on &lsquo;investment in plant and machinery&rsquo; to a criterion based on &lsquo;annual turnover&rsquo;.<br /><br /><em>What is the importance of the MSME sector?<br /></em><br />According to a Reserve Bank of India report, the MSMEs are amongst the strongest drivers of economic development, innovation and employment. Looking back at data since 2000-01, MSME sector growth has almost every year outstripped overall industrial growth in the country.<br /><br />&ldquo;The MSME sector also contributes in a significant way to the growth of the Indian economy with a vast network of about 63.38 million enterprises. The sector contributes about 45% to manufacturing output, more than 40% of exports, over 28% of the GDP while creating employment for about 111 million people, which in terms of volume stands next to agricultural sector,&rdquo; stated the report.<br /><br />However, the RBI report also noted that at present the sector is &ldquo;exceedingly heterogeneous in terms of size of the enterprises and variety of products and services, and levels of technology employed&rdquo; and that it has the potential to grow at a much faster rate. One of the key attractions of this sector is that it huge employment generation potential at relatively lower capital investment.<br /><br />Please <a href="https://indianexpress.com/article/explained/explained-why-the-govt-want-to-change-the-definition-of-msmes-6083885/" title="https://indianexpress.com/article/explained/explained-why-the-govt-want-to-change-the-definition-of-msmes-6083885/">click here</a> to read more. <br /></div>               </font>
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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr68027f106486a-trace').style.display = (document.getElementById('cakeErr68027f106486a-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr68027f106486a-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr68027f106486a-code').style.display = (document.getElementById('cakeErr68027f106486a-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr68027f106486a-context').style.display = (document.getElementById('cakeErr68027f106486a-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr68027f106486a-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
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<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
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&lt;br /&gt;
&lt;em&gt;A change in definition is expected to improve their ease of doing business and help create more jobs. &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
It has been reported that the government will soon change the way it defines the micro, small and medium enterprises (MSMEs). &amp;ldquo;We will have one meeting and then finalise it (changes to MSME definition),&amp;rdquo; Union Minister Nitin Gadkari told news agency PTI, adding that extensive changes will be made soon. In August, Finance Minister Nirmala Sitharaman had said that the government would consider shifting to a &amp;ldquo;single definition&amp;rdquo; of MSMEs. The change in definition would require an amendment to the MSME Development Act. In February last year, the Union Cabinet had approved amendments to the MSMED Act and had decided to choose shift from a criterion of classifying MSMEs based on &amp;lsquo;investment in plant and machinery&amp;rsquo; to a criterion based on &amp;lsquo;annual turnover&amp;rsquo;.&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;What is the importance of the MSME sector?&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
According to a Reserve Bank of India report, the MSMEs are amongst the strongest drivers of economic development, innovation and employment. Looking back at data since 2000-01, MSME sector growth has almost every year outstripped overall industrial growth in the country.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;The MSME sector also contributes in a significant way to the growth of the Indian economy with a vast network of about 63.38 million enterprises. The sector contributes about 45% to manufacturing output, more than 40% of exports, over 28% of the GDP while creating employment for about 111 million people, which in terms of volume stands next to agricultural sector,&amp;rdquo; stated the report.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
&lt;em&gt;What is the importance of the MSME sector?&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
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-The Indian Express

A change in definition is expected to improve their ease of doing business and help create more jobs. 

It has been reported that the government will soon change the way it defines the micro, small and medium enterprises..."/>
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                <strong>Explained: Why the govt wants to change the definition of MSMEs -Udit Misra</strong></h1>
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                <div align="justify">-The Indian Express<br /><br /><em>A change in definition is expected to improve their ease of doing business and help create more jobs. <br /></em><br />It has been reported that the government will soon change the way it defines the micro, small and medium enterprises (MSMEs). &ldquo;We will have one meeting and then finalise it (changes to MSME definition),&rdquo; Union Minister Nitin Gadkari told news agency PTI, adding that extensive changes will be made soon. In August, Finance Minister Nirmala Sitharaman had said that the government would consider shifting to a &ldquo;single definition&rdquo; of MSMEs. The change in definition would require an amendment to the MSME Development Act. In February last year, the Union Cabinet had approved amendments to the MSMED Act and had decided to choose shift from a criterion of classifying MSMEs based on &lsquo;investment in plant and machinery&rsquo; to a criterion based on &lsquo;annual turnover&rsquo;.<br /><br /><em>What is the importance of the MSME sector?<br /></em><br />According to a Reserve Bank of India report, the MSMEs are amongst the strongest drivers of economic development, innovation and employment. Looking back at data since 2000-01, MSME sector growth has almost every year outstripped overall industrial growth in the country.<br /><br />&ldquo;The MSME sector also contributes in a significant way to the growth of the Indian economy with a vast network of about 63.38 million enterprises. The sector contributes about 45% to manufacturing output, more than 40% of exports, over 28% of the GDP while creating employment for about 111 million people, which in terms of volume stands next to agricultural sector,&rdquo; stated the report.<br /><br />However, the RBI report also noted that at present the sector is &ldquo;exceedingly heterogeneous in terms of size of the enterprises and variety of products and services, and levels of technology employed&rdquo; and that it has the potential to grow at a much faster rate. One of the key attractions of this sector is that it huge employment generation potential at relatively lower capital investment.<br /><br />Please <a href="https://indianexpress.com/article/explained/explained-why-the-govt-want-to-change-the-definition-of-msmes-6083885/" title="https://indianexpress.com/article/explained/explained-why-the-govt-want-to-change-the-definition-of-msmes-6083885/">click here</a> to read more. <br /></div>               </font>
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-The Indian Express&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;A change in definition is expected to improve their ease of doing business and help create more jobs. &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
It has been reported that the government will soon change the way it defines the micro, small and medium enterprises (MSMEs). &amp;ldquo;We will have one meeting and then finalise it (changes to MSME definition),&amp;rdquo; Union Minister Nitin Gadkari told news agency PTI, adding that extensive changes will be made soon. In August, Finance Minister Nirmala Sitharaman had said that the government would consider shifting to a &amp;ldquo;single definition&amp;rdquo; of MSMEs. The change in definition would require an amendment to the MSME Development Act. In February last year, the Union Cabinet had approved amendments to the MSMED Act and had decided to choose shift from a criterion of classifying MSMEs based on &amp;lsquo;investment in plant and machinery&amp;rsquo; to a criterion based on &amp;lsquo;annual turnover&amp;rsquo;.&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;What is the importance of the MSME sector?&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
According to a Reserve Bank of India report, the MSMEs are amongst the strongest drivers of economic development, innovation and employment. Looking back at data since 2000-01, MSME sector growth has almost every year outstripped overall industrial growth in the country.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;The MSME sector also contributes in a significant way to the growth of the Indian economy with a vast network of about 63.38 million enterprises. The sector contributes about 45% to manufacturing output, more than 40% of exports, over 28% of the GDP while creating employment for about 111 million people, which in terms of volume stands next to agricultural sector,&amp;rdquo; stated the report.&lt;br /&gt;
&lt;br /&gt;
However, the RBI report also noted that at present the sector is &amp;ldquo;exceedingly heterogeneous in terms of size of the enterprises and variety of products and services, and levels of technology employed&amp;rdquo; and that it has the potential to grow at a much faster rate. One of the key attractions of this sector is that it huge employment generation potential at relatively lower capital investment.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://indianexpress.com/article/explained/explained-why-the-govt-want-to-change-the-definition-of-msmes-6083885/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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&lt;em&gt;A change in definition is expected to improve their ease of doing business and help create more jobs. &lt;br /&gt;
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&lt;br /&gt;
&lt;em&gt;What is the importance of the MSME sector?&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
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A change in definition is expected to improve their ease of doing business and help create more jobs. 

It has been reported that the government will soon change the way it defines the micro, small and medium enterprises...&#039;
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                <strong>Explained: Why the govt wants to change the definition of MSMEs -Udit Misra</strong></h1>
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                <div align="justify">-The Indian Express<br /><br /><em>A change in definition is expected to improve their ease of doing business and help create more jobs. <br /></em><br />It has been reported that the government will soon change the way it defines the micro, small and medium enterprises (MSMEs). &ldquo;We will have one meeting and then finalise it (changes to MSME definition),&rdquo; Union Minister Nitin Gadkari told news agency PTI, adding that extensive changes will be made soon. In August, Finance Minister Nirmala Sitharaman had said that the government would consider shifting to a &ldquo;single definition&rdquo; of MSMEs. The change in definition would require an amendment to the MSME Development Act. In February last year, the Union Cabinet had approved amendments to the MSMED Act and had decided to choose shift from a criterion of classifying MSMEs based on &lsquo;investment in plant and machinery&rsquo; to a criterion based on &lsquo;annual turnover&rsquo;.<br /><br /><em>What is the importance of the MSME sector?<br /></em><br />According to a Reserve Bank of India report, the MSMEs are amongst the strongest drivers of economic development, innovation and employment. Looking back at data since 2000-01, MSME sector growth has almost every year outstripped overall industrial growth in the country.<br /><br />&ldquo;The MSME sector also contributes in a significant way to the growth of the Indian economy with a vast network of about 63.38 million enterprises. The sector contributes about 45% to manufacturing output, more than 40% of exports, over 28% of the GDP while creating employment for about 111 million people, which in terms of volume stands next to agricultural sector,&rdquo; stated the report.<br /><br />However, the RBI report also noted that at present the sector is &ldquo;exceedingly heterogeneous in terms of size of the enterprises and variety of products and services, and levels of technology employed&rdquo; and that it has the potential to grow at a much faster rate. One of the key attractions of this sector is that it huge employment generation potential at relatively lower capital investment.<br /><br />Please <a href="https://indianexpress.com/article/explained/explained-why-the-govt-want-to-change-the-definition-of-msmes-6083885/" title="https://indianexpress.com/article/explained/explained-why-the-govt-want-to-change-the-definition-of-msmes-6083885/">click here</a> to read more. <br /></div>               </font>
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-The Indian Express<br />
<br />
<em>A change in definition is expected to improve their ease of doing business and help create more jobs. <br />
</em><br />
It has been reported that the government will soon change the way it defines the micro, small and medium enterprises (MSMEs). &ldquo;We will have one meeting and then finalise it (changes to MSME definition),&rdquo; Union Minister Nitin Gadkari told news agency PTI, adding that extensive changes will be made soon. In August, Finance Minister Nirmala Sitharaman had said that the government would consider shifting to a &ldquo;single definition&rdquo; of MSMEs. The change in definition would require an amendment to the MSME Development Act. In February last year, the Union Cabinet had approved amendments to the MSMED Act and had decided to choose shift from a criterion of classifying MSMEs based on &lsquo;investment in plant and machinery&rsquo; to a criterion based on &lsquo;annual turnover&rsquo;.<br />
<br />
<em>What is the importance of the MSME sector?<br />
</em><br />
According to a Reserve Bank of India report, the MSMEs are amongst the strongest drivers of economic development, innovation and employment. Looking back at data since 2000-01, MSME sector growth has almost every year outstripped overall industrial growth in the country.<br />
<br />
&ldquo;The MSME sector also contributes in a significant way to the growth of the Indian economy with a vast network of about 63.38 million enterprises. The sector contributes about 45% to manufacturing output, more than 40% of exports, over 28% of the GDP while creating employment for about 111 million people, which in terms of volume stands next to agricultural sector,&rdquo; stated the report.<br />
<br />
However, the RBI report also noted that at present the sector is &ldquo;exceedingly heterogeneous in terms of size of the enterprises and variety of products and services, and levels of technology employed&rdquo; and that it has the potential to grow at a much faster rate. One of the key attractions of this sector is that it huge employment generation potential at relatively lower capital investment.<br />
<br />
Please <a href="https://indianexpress.com/article/explained/explained-why-the-govt-want-to-change-the-definition-of-msmes-6083885/">click here</a> to read more. <br />
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-The Indian Express<br />
<br />
<em>A change in definition is expected to improve their ease of doing business and help create more jobs. <br />
</em><br />
It has been reported that the government will soon change the way it defines the micro, small and medium enterprises (MSMEs). &ldquo;We will have one meeting and then finalise it (changes to MSME definition),&rdquo; Union Minister Nitin Gadkari told news agency PTI, adding that extensive changes will be made soon. In August, Finance Minister Nirmala Sitharaman had said that the government would consider shifting to a &ldquo;single definition&rdquo; of MSMEs. The change in definition would require an amendment to the MSME Development Act. In February last year, the Union Cabinet had approved amendments to the MSMED Act and had decided to choose shift from a criterion of classifying MSMEs based on &lsquo;investment in plant and machinery&rsquo; to a criterion based on &lsquo;annual turnover&rsquo;.<br />
<br />
<em>What is the importance of the MSME sector?<br />
</em><br />
According to a Reserve Bank of India report, the MSMEs are amongst the strongest drivers of economic development, innovation and employment. Looking back at data since 2000-01, MSME sector growth has almost every year outstripped overall industrial growth in the country.<br />
<br />
&ldquo;The MSME sector also contributes in a significant way to the growth of the Indian economy with a vast network of about 63.38 million enterprises. The sector contributes about 45% to manufacturing output, more than 40% of exports, over 28% of the GDP while creating employment for about 111 million people, which in terms of volume stands next to agricultural sector,&rdquo; stated the report.<br />
<br />
However, the RBI report also noted that at present the sector is &ldquo;exceedingly heterogeneous in terms of size of the enterprises and variety of products and services, and levels of technology employed&rdquo; and that it has the potential to grow at a much faster rate. One of the key attractions of this sector is that it huge employment generation potential at relatively lower capital investment.<br />
<br />
Please <a href="https://indianexpress.com/article/explained/explained-why-the-govt-want-to-change-the-definition-of-msmes-6083885/">click here</a> to read more. <br />
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A change in definition is expected to improve their ease of doing business and help create more jobs. 

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Explained: Why the govt wants to change the definition of MSMEs -Udit Misra

-The Indian Express A change in definition is expected to improve their ease of doing business and help create more jobs. It has been reported that the government will soon change the way it defines the micro, small and medium enterprises (MSMEs). “We will have one meeting and then finalise it (changes to MSME definition),” Union Minister Nitin Gadkari told news agency PTI, adding that extensive changes will be made soon. In August, Finance Minister Nirmala Sitharaman had said that the government would consider shifting to a “single definition” of MSMEs. The change in definition would require an amendment to the MSME Development Act. In February last year, the Union Cabinet had approved amendments to the MSMED Act and had decided to choose shift from a criterion of classifying MSMEs based on ‘investment in plant and machinery’ to a criterion based on ‘annual turnover’. What is the importance of the MSME sector? According to a Reserve Bank of India report, the MSMEs are amongst the strongest drivers of economic development, innovation and employment. Looking back at data since 2000-01, MSME sector growth has almost every year outstripped overall industrial growth in the country. “The MSME sector also contributes in a significant way to the growth of the Indian economy with a vast network of about 63.38 million enterprises. The sector contributes about 45% to manufacturing output, more than 40% of exports, over 28% of the GDP while creating employment for about 111 million people, which in terms of volume stands next to agricultural sector,” stated the report. However, the RBI report also noted that at present the sector is “exceedingly heterogeneous in terms of size of the enterprises and variety of products and services, and levels of technology employed” and that it has the potential to grow at a much faster rate. One of the key attractions of this sector is that it huge employment generation potential at relatively lower capital investment. Please click here to read more.