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THE MICRO SMALL and Medium Enterprises Development ACT 2006
What percentage of national GDP do MSMEs contribute?
Approximately 30% of national GDP.
Which Act governed small-scale sector before 2006?
Industries (Development and Regulation) Act, 1951 (IDRA) and SSI regime.
When did MSMED Act, 2006 come into force?
2nd October 2006.
What major change occurred on 13 May 2020 to MSME classification?
Composite criteria of investment AND turnover introduced; unified thresholds.
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