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Utkarsh Classes
Updated: 24 Mar 2025
3 Min Read
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The central government has notified the revised classification criteria for the micro medium and small enterprises(MSME). The revised classification was announced by Union Finance Minister Mrs Nirmala Sitharaman in her 2025-26 Budget speech.
The revised classification norms will be applicable from the start of the new financial year starting on 1st April 2025. The last time the classification was revised was in July 2020.
The Micro Small and Medium Enterprises Development (MSMED) Act 2006, which came into effect on 2 October 2006, defines the MSME sector in India.
Initially, the MSME enterprises were divided into manufacturing and service sectors. However, the MSMED Act 2006 was amended in 2020 by the Parliament and abolished the distinction between manufacturing and service sector enterprises.
At present, MSMEs are defined on the twin criteria of- investment in plant and machinery and on the basis of their annual turnover.
Classification with effect from 1 April 2025.
Micro Enterprise
Small Enterprises
Medium Enterprises
The Finance Minister identified the MSME sector as one of the 6 engines of the Indian economy during her 2025-26 budget speech.
She announced several initiatives for the MSEM sectors.
Some of the important announcements regarding the MSME sectors are as follows:
Contribution of the MSME in India's economy
Other Initiatives
Scheme for First-time Entrepreneurs
National Manufacturing Mission
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