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Budget announces wider definition for MSMEs, enhanced credit flow.
The finance minister announced widening definition of micro, small and medium enterprises (MSMEs) and outlined a number of initiatives to increase credit flows amid a budget focus on helping smaller businesses.
To help them achieve higher efficiencies of scale, technological upgradation and better access to capital, the investment and turnover limits for classification of all MSMEs will be enhanced to 2.5 and 2 times respectively .