Ministry Of Micro, Small And Medium Enterprises (MSMED) vide Gazette Id no. CG-DL-E-01062020-219680 and S.O. 1702(E) dated 01st June, 2020 has officially notified criteria for classification of micro, small and medium enterprises, -In exercise of the powers conferred by sub-section (1) read with sub-section (9) of section 7 of the ‘Micro, Small and Medium Enterprises Development Act, 2006, due to which definition criteria has been changed now:

New Definitions - Enterprises
(shall come into effect from 01.07.2020):

micro enterprises	where the investment in Plant and Machinery or Equipment does not exceed one crore rupees and turnover does not exceed five crore rupees;
small enterprises	where the investment in Plant and Machinery or Equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees;
medium enterprises	where the investment in Plant and Machinery or Equipment does not exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees

Existing Definition (valid upto 30th June 2020)

Investment in plant & machinery
Entities	Manufacturing Sector	Service Sector
Micro Enterprises	does not exceed Rs. 25 lakh;	does not exceed Rs. 10 lakh
Small Enterprises	more than Rs. 25 lakh but does not exceed Rs. 5 crore;	more than Rs.10 lakh but does not exceed Rs. 2 crore;
Medium Enterprises	more than Rs.5 crore but does not exceed Rs.10 crore.	more than Rs. 2 crore but does not exceed Rs. 5 crore.

Source:
http://egazette.nic.in/WriteReadData/2020/219680.pdf

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