competition success review Published this article page no 94 The scheme will help to expand MSME size as well as capacity and it may also encourage MSMEs to get listed on Stock Exchanges. Revised Definition of MSMEs Need for change in definition There has been a longpending demand for revisions as low threshold in MSME definition have created a fear among MSMEs of graduating out of the benefits given to the sector and hence killing the urge to grow. Changes announced in the definition o Introduction of additional criteria of turnover. o Distinction between manufacturing and service sector to be eliminated. Global tenders to be disallowed up to Rs. 200 crores The idea behind this move is to protect Indian MSMEs from foreign competition. o This will be a step towards Self Reliant India and will directly support Make in India initiative and will also help MSMEs to increase their business in the long term and help them grow. Relief to Contractors Extension of up to 6 months (without costs to contractor) by all Central Agencies (like Railways Ministry of Road Transport & Highways and Central PWD). Mother Fund Daughter Fund 1 Daughter Fund 3 Daughter Fund 2 89 Coverage under the package Construction works goods and services contracts obligations like completion of work intermediate milestones etc. Use of Fintech competition success review buy.
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