₹10,000 Crore SME Growth Fund Approved

The Union Cabinet has approved the establishment of an 'SME Growth Fund' with a financial allocation of ₹10,000 crore for the development of Micro, Small and Medium Enterprises (MSMEs).

Approval for the establishment of a 'Unified Logistics Authority' to integrate freight transport and logistics operations.

📚 School Textbook Link: 11th Standard / 10th Standard · Economics / Social Science · 11th Economics: Chapter 8 (Indian Economy) & Chapter 10 (Rural Economy) · Micro, Small and Medium Enterprises (MSMEs) & Industrial Policies

🎯 TNPSC Exam Key Notes:

• Year MSMED Act (MSME Development Act) was enacted: 2006 (Implementation: October 2, 2006).
• Micro Enterprise: Machinery investment ≤ ₹1 crore and Annual Turnover ≤ ₹5 crore.
• Small Enterprise: Machinery investment ≤ ₹10 crore and Annual Turnover ≤ ₹50 crore.
• Medium Enterprise: Machinery investment ≤ ₹50 crore and Annual Turnover ≤ ₹250 crore.
• From July 1, 2020, a single classification criterion was implemented for both manufacturing and service sectors.
• Udyam Portal: Official Aadhaar-based free registration platform for MSME companies.

📌 KEY FOR TNPSC:

• SIDBI Headquarters: Lucknow (established in 1990).
• The Ministry of MSME was separately created in 2007 by merging the Ministries of Small Scale Industries and Agro & Rural Industries.