31.6 million MSMEs registered With Gov. in July,2020 to Dec,2023
Here is a child-friendly summary of the article about MSMEs registered With Gov:
MSME stands for Micro, Small and Medium Enterprises. MSMEs are small businesses that provide goods and services in our country. Examples are local shops, factories, handicraft makers etc.
The Indian government keeps track of registered MSMEs in the country. Between July 2020 and December 2023, over 31.6 million new MSMEs have registered themselves with the government.
This means earlier there were around 6.3 crore registered MSMEs, and in the last 3.5 years another 3.16 crore small businesses have got themselves registered.
Experts say many small businesses were forced to register because of rules like GST. Registration helps them access government schemes and loans.
The government is happy to see growth in registered MSMEs. More registered small companies means more tax collection and jobs in the economy.
In simple words:
- – MSMEs are small / medium businesses like shops, factories etc
- – Between 2020-2023, over 3 crore new MSMEs registered
- – Taking total registered MSMEs from 6 crore to over 9 crore
- – Registration helps small companies access loans & schemesÂ
- – Government is happy as more registered MSMEs = more tax, jobs
Let me know if you have any other questions!
Source:-Business standard