Upgraded rules to help New Businesses and Startups
This year’s Budget also took place in both the government and the Reserve Bank of India’s stimulus measures to promote entrepreneurship in the manufacturing sector, such as manufacturing, textiles, electrical and electronic equipment, manufacturing and other services like technology consulting and architecture.
Understanding how withdrawal policies and concessions are currently beneficial in the context of the withdrawal process and the implementation of the GST reforms in the context of the scarcity of small and medium enterprises that have been mainly paid out.

Definition Changed
In the Ministry of Micro, Small and Small Enterprises Development Act, 2006, aimed at helping and protecting small enterprises, Amendments have been amended in the basic departments for defending and classifying enterprises.
The investment will be based on annual turnover and the turnover of investments will be deducted. There will be up to five crore annual sales turnover units that will be known as micro projects. Up to Rs 75 crore will be considered as Small Enterprises and above Rs 250 crore as medium enterprises. Units of manufacturing and service sector units will be eligible for MSME Rules and Protection based on their annual turnover.
The income tax for companies with the turnover below Rs 250 crore has been reduced to 25 percent.
The requirement is that 40 percent of lending by banks would be for different priority categories, including agricultural loans. Loans to Micro, Small and Medium Enterprises (SMEs) have been included in the priority category, but loans up to Rs. 5 crores in the service sector are small and medium enterprises and loans up to Rs 10 crore are considered as primary and medium enterprises.
This limit has been taken down. Loans for Micro, Small and Medium Units without the difference in Manufacturing Service Sector and Loan Rate are considered as priority loans and 7.5% of the bank loans will be reserved for such units.
Banks will be required to repay the loans within 90 days to repay their loans by default. This is 120 days in all financial institutions. Due to the reforms in the economy, 180 units have been allotted for failing repayment units.
Those who have loaned up to Rs 25 crore and those who have dues on 1st September 2017 and those who have to repay it on January 31, 2018, will get a 180-day deadline.
Delay in repayment of such loans will not be considered as NPAs and will not initiate loan recovery measures. The units registered under the Cargo and Service Tax Act are eligible.
Rs 50,000 up to Child Loans to set up Micro, Small and Medium Enterprises, Agriculture and Small Enterprises, Kishore Loans up to Rs 5 lakh and Tarun Loans up to Rs 10 lakh.
A sum of Rs 3 lakh crore has been allocated for the year 2018-19. A sum of Rs. 3,794 crores will be provided for the subsidy, including interest subsidy for small units.