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Around 13,137 enterprises in the micro, small and medium sector have registered in the first two-and-a-half months of FY 2022-23, said the Minister for Law, Industries and Coir.
Earlier, the investment cap was Rs 10 crore. The State amended the Act after the Central government raised the investment ceiling to Rs 50 crore.
He said more change is expected in the MSME sector as small and medium enterprises do not need a license for three years.
Kerala Finance Minister KN Balagopal raised the demand at his meeting with Union Finance Minister Nirmala Sitharaman in New Delhi
The revised guidelines will benefit 2.5 crore retail and wholesale traders. The move would also allow them to register on Udyam portal.
This is the first time India's growth rate is falling in the negative trajectory after the economic liberalisation in 1992. The pandemic-driven contraction impelled by low levels of consumer spending and low credit facility is alarming.
Government data released on Friday showed the economy shrank 7.5% in the July-September quarter.
India is ready to do whatever it can to further global good and prosperity. This is an India that is reforming, performing and transforming, Modi said.
The government also approved Rs 20,000 crore subordinate debt for stressed MSMEs.
The Kerala government had allowed the opening of restaurants, bus travel in cities and MSME industries in urban areas, but withdrew the relaxations after the ministry objected.