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MSMED (Amendment) Act, 2020
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About — MSMED (Amendment) Act, 2020
The Micro, Small and Medium Enterprises Development (Amendment) Act, 2020 revises the definition of MSMEs and introduces a turnover‑based classification, replacing the earlier investment‑based criteria. It aims to broaden eligibility, improve access to credit and schemes, and strengthen the credit guarantee fund. For example, firms with turnover up to ₹250 crore qualify as medium enterprises, up from the previous ₹50 crore limit.