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Discussion on Amendments in the MSMED Act 2006

Discussion on Amendments in the MSMED Act 2006
आरंभ करने की तिथि :
Jul 05, 2024
अंतिम तिथि :
Aug 05, 2024
23:45 PM IST (GMT +5.30 Hrs)
प्रस्तुतियाँ समाप्त हो चुके

The Ministry of MSME is in the process of amending the MSMED Act, 2006. In this regard, this Ministry had consulted various central Ministries/Department/State Govt./Industry ...

The Ministry of MSME is in the process of amending the MSMED Act, 2006. In this regard, this Ministry had consulted various central Ministries/Department/State Govt./Industry Associations/other stakeholders & general public.

Based on the consultations and written inputs received from various stakeholders, the amendments proposed in the MSMED Act, 2006 are based on the following four key pillars:

A) Enhancing inclusivity and broad-basing the scope of the Act;
B) Future-proofing the Act;
C) Improving co-ordination under the Act;
D) Enhancing the ease of business in the ecosystem;

A) Enhancing Inclusivity and Broad-basing the scope of the Act
• Accord statutory status to Udyam registration for availing benefits under the Act.
• Provision for credit guarantee coverage to Micro and Small Enterprises by Government.
• Enabling provisions to address issues of credit gap; shortage of working capital; ensure adequate, affordable, and timely finance to enterprises; minimize the incidence of financial stress among enterprises; and leverage new and emerging platforms and technologies such as the Trade Receivables Discounting System, Account Aggregator Framework, etc.
• Provision for targeted mechanisms for capacity building of women, members of SC and ST, and rural artisans and craftspeople and provisions for market access, financial and digital literacy.
• Inclusion of cottage, village, and coir industries as rural artisans and craftspeople in the MSME classification scheme, to promote rural industries and enterprises.
• Inclusion of Medium Enterprises in the dispute resolution framework

B) Future-proofing the Act
• Strengthen provisions for technological upgradation and green technology to enhance productivity, quality, and competitiveness.
• Enabling provisions for the adoption of energy-efficient, sustainable technologies by MSME.
• Designation of a Green Fund to support the energy transition of MSME and integration in the global value chain.
• Addressing industrial obsolescence among enterprises.
• Promoting technological upgradation and research and development among enterprises.
• Encouraging the adoption of sustainable technology solutions by enterprises.

C) Improving coordination
• Streamline the structure, working, and functions of the National Board and the Advisory Committee to make them lean, efficient, and responsive to the requirements of MSME, and strengthen the monitoring and evaluation mechanism.
• Provision to set up an adequate number of Facilitation Councils in States for better access to MSMEs, along with an incentive structure to promote competition and good performance among them.
• The composition of the Facilitation Councils may be prescribed by the State Government.

D) Enhancing Ease of Business in the Ecosystem
• Provisions for the decriminalisation of offences by converting criminal fines into civil penalties.
• Simplification of regulatory clearance mechanism and procedure for establishment and management of MSME by making suitable provisions in the Rulemaking powers of the appropriate Government.
• Creating and encouraging the adoption of digital solutions to improve transparency and foster a culture of accountability
• Make the adjudication process simpler and speedier, aligning it with the alternative dispute resolution framework and online dispute redressal.

Please Click Here to Read more.

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kunal kishore
kunal kishore 2 साल 1 महीना पहले
MSME sector is a backbone of our economy.a lot of people engage in this sector.there are some changes in msmed act 2006.in my view sector wise and area wise planning for their proper execution.second grass route expert committee has been executed for better implementation of policy.third a proper and easily fund available for it.
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Vijayaraman menon
Vijayaraman menon 2 साल 1 महीना पहले
Respected P.M., Sub: (1) National population control. (2) National reservation policy. To introduce myself, I am Vijayaraman, 85 years old, a Keralite, living in Thrissur. (1) When we gained our "INDEPENDENCE" in 1947, our population was only 35 crores. Now, we have clocked at 144 crores, and surpassed the population of China at 143 crores. Where as the land area of China (9.6 m km2) is (3 times) bigger than of ours (3.3 m km2). You are aware that, National "DEVELOPMENTS" grow on the "ARITHMETIC" proportion, our "POPULATION" grows in "GEOGRAPHIC" proportion. Therefore, it is time for us to decide about a "NATIONAL FAMILY PLAN", without fail.
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Rakesh gupta
Rakesh gupta 2 साल 1 महीना पहले
मेरा एक सपना और उम्मीद है कि भारत अपने दम से विश्वास से खड़ा हो, एक आत्मविश्वास हो, एक नई उमंग हो। भारत एक युवा देश तो है परन्तु कमजोर, गरीब और मजबूर सा लगता है भारत की पहचान एक गरीब और पिछड़ा हुआ देश न कहां जाएं। कहते हैं न हर किसी की अपनी जिंदगी होती है परंतु हमारी जिंदगी इतनी बेचारे वाली नहीं हों सकतीं । जागो, उठों और आगे बढ़ो
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Vinit Gavankar
Vinit Gavankar 2 साल 1 महीना पहले
Hi Sir, We have a population explosion in India. Our population is 140 CR now. Due to limited resources, we need to control our population and I expect government to introduce a population control bill soon.  If don't take any action now then I am 100% sure that in the future we have to start an artificial war against China or Pak and need to share a precise location ( with a dense population ) to hit.  I know that a large population is only useful for politicians, businessmen, actors, and saints as they are their customers. The higher the population better the business. For a common man, a large population means fewer resources, no laws, and a nonsense country to live in.  Hope government will introduce such a bill soon.  Thanks, Vinit Gavankar
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Vinit Gavankar
Vinit Gavankar 2 साल 1 महीना पहले
Hello Sir, We must focus on improving our work culture and the salary/compensation we get from the companies. The reason why all the companies like to come in India is for cheap labor. We don't have any laws on work culture / minimum wages as per inflation in our country. Due this this our young generation does not have any secure life/buying capacity for the things that are produced by their MNC companies. For example, many Indias work in BMW, Audi,.. other MNCs but can't buy it. In Europe / USA they have strict laws to protect the rights of employees like Unions, Pensions, and Big Salary as per current market inflation. We need to first make laws for this and need to stop our exploitation. Please find attached a video link of the current Boing company salary issue for how the USA handles it. Because of the best work culture, big salary, and freedom our educated people are living Indian citizenship. Hoping for some action on this from Gov. Thanks, Vinit Gavankar
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Rajesh Babanrao Bhagwat
Rajesh Babanrao Bhagwat 2 साल 1 महीना पहले
Discussion on Amendments in the MSMED Act , 2006 :- The Ministry of MSME is in the process of amending the MSMED Act , 2006 . Based on the Consultations and written inputs received from various stakeholders , the amendments proposed in the MSMED Act 2006 , are based on four key pillars :- 1. Enhancing inclusiv8ty and broad-basing the scope of the Act , 2 Future proofong the Act , 3. Improving co-ordination under the Act , 4. Enhancing the ease of business in the ecosystem .
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Kritika Rai
Kritika Rai 2 साल 1 महीना पहले
The government should focus on creating a more robust support system for MSMEs to thrive in the competitive market. This includes implementing policies that ease access to finance, such as providing low-interest loans and ensuring prompt payment cycles to prevent cash flow issues. Additionally, the government should invest in infrastructure and technology to help MSMEs adopt digital solutions, improve productivity, and expand their market reach. Facilitating skill development programs and offering tax incentives can further boost innovation and growth within the sector. Streamlining regulatory processes and enhancing ease of doing business will also encourage more entrepreneurs to enter the MSME space, contributing to overall economic growth.
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Deepali Hingne adv
Deepali Hingne adv 2 साल 1 महीना पहले
Enterpreuer -itself carry meaning with purpose Enter - mini micro level work Pre- here stand as - in preventive measure or precaution mode action which will lead- less problems more solutions or benefits & neur - 4own macanism with digital help neur literary means - nerve system so own business perspective system how.. भारत आज भी सोने की चिड़िया है सिर्फ उसे उजागर करना है प्रयास से परिश्रम से प्रयोग से.. उसका रोडा obstacle- mindset corruption डर/लालच है और दुनिया खाली पडी है कुछ करे के लिए q के सब बुरा or misuse कर रहे है ..जिन्होने development reserch उसके readymade base पे वो अलग बात है उनका contribution कुछ नही दुनिया के लिए और दुनिया उनको चाहिए..खैर कितना कुछ है दुनिया मे करने के लिए.. so ..in any act 1st-utilise at ground level Efficiency 4it do - Categories Areawise क्या area की खासियत है और भारत को बहोत कुछ नही सबकुछ दिया है प्रकृती ने Diversity as an Opportunity 4 Business Productivity & Quality at mini level do group with digital- connect
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