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MSME ACT 2006

MICRO, SMALL AND MEDIUM ENTERPRISES DEVELOPMENT (MSMED) ACT 2006 formulated By the Government of India with effect from 02.10.2006 the Industries concept renamed as enterprises and classified by the investment made by the Enterprises.
CLASSIFICATION OF ENTERPRISES
MANUFACTURING ENTERPRISES (Excluding Land and Building Investment) Micro - Plant & Machinery Investment upto Rs. 25 Lakh Small – Plant & Machinery Investment above Rs. 25 Lakh & upto Rs. 5 Crore Medium – Plant & Machinery Investment above Rs.5 Crore & upto Rs. 10 Crore
SERVICE ENTERPRISES(Excluding Land and Building Investment
Micro - Plant & Machinery Investment upto Rs. 10 Lakh Small – Plant & Machinery Investment above Rs.10 Lakh & upto Rs. 2 Crore Medium – Plant & Machinery Investment above Rs. 2 Crore & upto Rs. 5 Crore
EMPLOYMENT OPPORTUNITIES
The Implementation of Micro Small and Medium Enterprises Policy – 2008, the new manufacturing enterprises are coming up in the backward blocks, reduce the sectorial imbalances in the Industrial development within the District. The policy will provide 15% Capital Subsidy subject to the maximum of Rs. 30 Lakhs and Employment intensive subsidy of 5% on plant and machinery subject to maximum of Rs. 5 lakhs.
OVER ALL SCENARIO AFTER 5 YEARS
Strength a) Widened Highway from Salem to Kanyakumari b) Widened road from Bangalore – Madurai. d) Extended Port in Tuticorin and Cochin. e) Nearest Airport is at Coimbatore & Trichy. f) Availability of skilled labours. g) Formation of SIDCO & TEXTILE PARK .
OPPORTUNITY
a) Better utilization of incentives b) CGFT scheme c) Developed IT field d) Better export chance e) New Industrial Estates can be formed.. f) NEEDS Scheme for First Generation Entrepreneur g) MSME Policy 2008 by Govt. of Tamil Nadu with 25% Incentives
STEPS TO INCREASE THE INDUSTRIAL GROWTH
a) Credit should be easily available b) NPA cases should be dealt without hurting the minds. c) Incentives should be attractive d) All the clearances should be in a single door step also a time bounded e) Export incentives should be more f) Attractive interest rate to MSME units should be available g) Alternate energy sources to be exploited h) Exporters should be safeguarded against the fluctuation in Dollar rate. Moreover support price should be maintained.