Micro, Small and Medium Enterprises Development (MSMED) Act, 2006

The Government of India has enacted the Micro, Small and Medium Enterprises
Development (MSMED) Act, 2006 on June 16, 2006 which came into effect from
October 2, 2006 with the intention of facilitating the promotion and development as well

The Hon’ble Finance Minister of India, Ms. Nirmala Sitharaman had announced certain measures to
help the country cope during the COVID-19 pandemic. The announcements included various matters
w.r.t. MSMEs like change in the criteria for classification of MSMEs, introduction of a composite