CURRENT AFFAIRS

Detailed explanation-1: -4 crore” and turnover from “not exceeding Rs. 20 crore” to “not exceeding Rs. 40 crore”. Small companies represent the entrepreneurial aspirations and innovation capabilities of lakhs of citizens and contribute to growth and employment in a significant manner.

Detailed explanation-2: -A turnover equal to or below Rs. 40 crore or such a higher amount specified not exceeding more than Rs. 100 crore.

Detailed explanation-3: -According to the latest amendment, the definition of ‘Small Companies’ has further been updated by increasing the thresholds for paid-up Capital from “not exceeding Rs 2 crore” to “not exceeding Rs 4 crore”. Furthermore, the turnover has been revised from “not exceeding Rs 20 crore” to “not exceeding Rs 40 crore”.

Detailed explanation-4: -The revised definition of MSME is as follows:- This applies to all MSMEs including the Service enterprises which earlier came under investment of up to Rs 2 crore. Medium units: Enterprises with investments up to Rs 20 crore and with a turnover of less than Rs 100 crore will now be called Medium units.

Detailed explanation-5: -The investment in plant and machinery of a small enterprise under the Micro, Small and Medium Enterprises Development Act, which was up to Rs 2 crore, has been revised to Rs 5 crore.”