- Union Minister for Micro, Small and Medium Enterprises (MSME) Nitin Gadkari told the Rajya Sabha on Thursday that the government would come out with a new definition of MSMEs, which are currently defined on the basis of investment in plant and machinery.
- Sinha committee appointed by the Reserve Bank of India, including the setting up a “fund of funds” for the sector. The MSME sector currently contributed 24% of the GDP growth and 48% of exports, with an annual turnover of Rs. 1 lakh crore this year. A target of Rs.5 lakh crore in five years had been set.
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