Bill seeks to extend progressive credit facilities to SMEs
The government today introduced the Small and Medium Enterprises Development Bill, 2005, in the Lok Sabha, seeking to enhance the investment cap for small-scale (SSI) units from Rs 1 crore to Rs 5 crore. The Bill also proposes to make medium enterprises a separate category, with an investment of up to Rs 10 crore in plant and machinery. In the services sector, units with less than Rs 2 crore investment in equipment are proposed to be classified as small enterprises, while units with investments of Rs 2-5 crore will come under the medium enterprises category. The Bill aims to consolidate the laws governing small- and medium-sized enterprises (SMEs). It also seeks to extend progressive credit facilities to SMEs in line with the guidelines laid out by the Reserve Bank of India.
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