UK Sinha Report on Micro, Small and Medium Enterprises
Recently Expert Committee under U K Sinha On Micro Small and Medium Enterprises (MSMEs) submitted its report to RBI. It was set up in January, 2019 to suggest long-term measures for the economic and financial sustainability of the MSME sector.
Major Recommendations
- Insolvency code/ delegated legislation should provide for out-of-court assistance to MSMEs such as mediation, financial education, or the appointment of a trustee.
- Change the definition of MSMEs from current investment based to turnover-based definition, as it would be more transparent, progressive, easier to implement. It will also remove the bias towards manufacturing enterprises in the existing definition.
- Present classification of ....
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