The MSME definition underwent significant revisions as part of the Atmanirbhar Bharat package announced on May 13, 2020. These changes aimed to include more units under the purview of MSME schemes and eliminate the distinction between the service and manufacturing sectors. The revised criteria for MSME classification are based on both investment and turnover: Micro Units: Investment up to Rs. 1 Crore and turnover up to Rs. 5 Crore. Small Units: Investment up to Rs. 10 Crore and turnover up to Rs. 50 Crore. Medium Enterprises: Investment up to Rs. 50 Crore and turnover up to Rs. 250 Crore.
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