The MSME trade body has said that the change in definition of MSMEs will allow large corporates and multi-national companies (MNCs) to have indirect control of the manufacturing sector in India through their subsidiaries

Some experts expressed apprehensions that including more firms in the MSME category could crowd out the real small-scale manufacturers and dim their chances of availing various benefits

Swadeshi Jagran Manch also wants medium enterprises to be excluded from the definition of MSMEs as they are as good as big unit and fillip to manufacturing

The industry body CII (Confederation of Indian Industry) has proposed annual turnover of more than Rs 5 crore but less than Rs 75 crore for small enterprises

Nirmala Sitharaman press conference: The Finance Minister said that the definition of MSMEs have also been changed in order to cover businesses that have grown beyond the existing definition

Investment criteria for MSMEs have been revised upwards, with turnover criteria being introduced; the distinction between manufacturing and services enterprises has been eliminated

Finance Minister Sitharaman Live on Rs 20 lakh crore Economic Package: FM Nirmala Sitharaman announced Atma Nirbhar Abhiyan. Provident Fund contribution of employers and workers is being reduced from 12% to 10% each of wages for the next 3 months, announced FM Nirmala Sitharaman. She added that the EPFO benefit will lead to more take home salary.

Though Nirmala Sitharaman had earlier declined to comment on the speculations of a stimulus package, she has been meeting industry representatives for the past several days to understand their concerns

This training has been provided to officers working at nearly 3,000 bank branches covering all districts in India through more than 2,000 special workshops in the last three years

Finance Minister Arun Jaitley on Saturday presented his maiden full-year Budget for the 2015-16 financial year in the Lok Sabha. Read the full text of his speech here: