Govt Considering Support Measures For The Msme

By Author: Sumit Biswas
Total Articles: 24
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The government's consideration of support measures for the MSME sector appears to be giving many MSME-registered enterprises hope.
The second Covid-19 wave, according to the people, had a significant impact on the MSME sector, which was still recovering from the prior wave's damage. As a result, the government's decisions on support measures for the MSME sector are critical.

The government is looking into a variety of options, including liquidity assistance, loosened compliance regulations, and tax exemptions for internet transactions.

However, the details of support measures are still being worked out.

Small firms are suffering, according to officials, because their operating cash is withheld. According to experts, at least 15,000 crores in debt is waiting. Therefore, The government's two main considerations are providing liquidity support by expanding the scope of the Emergency Credit Line Guarantee Scheme (ECLGS) and releasing delayed payments.

The majority of the country is still under lockdown in order to slow the second wave. That is why government officials believe MSMEs should encourage ...
... and engage in online sales. In addition, the distinction between necessary and non-essential goods and services on the internet may need to be reconsidered. However, in order to allow MSMEs access to a broader online marketplace, the focus should also be on safe delivery.
In other words, those having MSME Registration will now benefit from the government's additional support in this time of crisis.

What is the difference between MSME Registration and Udyam registration?

It's worth noting that MSME and Udyam registrations are the same things. MSME Registration is a government program that allows businesses to receive benefits from the central government, as well as the banking sector.

There are various advantages to registering for Udyam. For example, low-interest loans, speedier loans, Credit Support Schemes, and a reduced trademark registration charge, to name a few.

What is the difference between Micro, Small, and Medium Enterprises?

Micro Enterprises
An enterprise whose investment is < INR 1 crore and annual turnover is < INR 5 crores.
Small Enterprises
An enterprise whose investment is < INR 10 crore and annual turnover is < INR 50 crores.
Medium Enterprises
It is an enterprise whose investment < INR 20 crore and annual turnover is < INR 200 crores.

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