Andhra Pradesh Chambers of Commerce and Industry Federation president-elect M. Murali Krishna appealed to the Minister of Micro, Small and Medium Enterprises (MSME) Kalraj Mishra to get legislative approval for proposed amendments to the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 at the earliest to help MSMEs realise their potential.
Mr. Murali Krishna stated in a press release that the limits of investment in plant and machinery of micro, small and medium industries in the manufacturing sector were to be raised from Rs. 25 lakh to Rs. 50 lakh, Rs. 5 crore to Rs. 10 crore and Rs. 10 crore to Rs. 30 crore respectively.
The Ministry of MSME has sought amendments to the said Act in November 2014 itself keeping the rising input costs and pricing index in view but they (amendments) have still not been cleared.
