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Msme Word Docs - Copy

Msme Word Docs - Copy

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Published by: Ravi Kant Khandelwal on Feb 02, 2012
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02/02/2012

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 Submitted By:Ravi Kant Khandelwal
 
MSME:
An MSME (Micro, Small and Medium Enterprise) is defined by RBI/GOI differently for theManufacturing and the Services Sector, as follows:
MANUFACTURING SECTOR
:Manufacturing sector refers to enterprises engaged in manufacture or production, processingor preservation of goods. The definition of Micro, Small and Medium Enterprises under themanufacturing sector is based on the
Investment
in
plant
and
machinery
[original cost
 excluding land and building] and
the items specified by the Ministry of Small Scale Industries
. 
SERVICES SECTOR:
Services sector refers to enterprises engaged in providing or rendering of services. These willinclude small road & water transport operators (owning a fleet of vehicles not exceeding tenvehicles), small business (whose original cost price of the equipment used for the purpose of business does not exceed Rs.20 lakh) and professional & self-employed persons (whoseborrowing limits do not exceed Rs.10 lakh of which not more than Rs.2 lakh should be forworking capital requirements except in case of professionally qualified medical practitionerssetting up of practice in semi-urban and rural areas, the borrowing limits should not exceedRs.15 lakh with a sub-ceiling of Rs.3 lakh for working capital requirements). The definition of Micro, Small and Medium Enterprises under the services sector is based on the enterprisesinvestment in equipments. Service sector is having the highest contribution in the GDP of thecountry around 52% and it is one of the fastest growing sectors, so creation of more and moreopportunities in this sector is very important task for Indian government.
 
 
The President under Notification dated 9th May 2007 has amended the Government of India(Allocation of Business) Rules, 1961. Pursuant to this amendment, Ministry of Agro and RuralIndustries and Ministry of Small Scale Industries have been merged into a single Ministry,namely, MINISTRY OF MICRO, SMALL AND MEDIUM INDUSTRIES.
IMPORTANCE AND CONTRIBUTION:
MSMEs have an important role to play in the present context given their greater resource useefficiency, capacity for employment generation, technological innovation, promoting inter-sectorial linkages, raising exports and developing entrepreneurial skills. Their location flexibilityis an important advantage in reducing regional imbalances.Small and Medium Enterprises play a vital role for the growth of Indian economy bycontributing 45% of the industrial output, 40% of exports, 59 million in employment in over 26million units, create one million jobs every year and produces more than 6000 quality productsfor the Indian and international markets. As a result, MSMEs are today exposed to greateropportunities for expansion and diversification across the sectors.

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