Government changed the definition of micro, small and medium enterprises (MSMEs) as part of the Atma Nirbhar Bharat Abhiyan (self-reliant India) economic relief package.
Under the new definition, the distinction between manufacturing and services enterprises has been eliminated. Under the new definition of MSMEs, the investment criteria for such enterprises have been revised upwards, while an additional criterion of turnover has been introduced.
What is the likely effect of the same ?
What do you think is the rationale behind this move?