THE MSME INCLUDES RETAILERS AND WHOLESALERS
Union Minister Nitin Gadkari issued an order revising the definition of Micro, Small, and Medium Enterprises (MSMEs) to include retailers and wholesale dealers as MSMEs, allowing them to benefit from priority sector loans. Manufacturing and service organizations are included in MSMEs’ existing definition; however, retail and wholesale businesses are not. According to Union Minister Nitin Gadkari, the amended definition of MSMEs will assist 2.5 crore retail and wholesale traders. Wholesale and retail trading activities were previously classed as MSMEs, but they were removed from the Micro and Small Enterprises sector by a government notice dated June 2017. It reasoned that because they are neither manufacturing nor service units, they are not eligible for the Udyog Aadhaar Memorandum. Retail and wholesale trades will be able to register on the Udyam Registration Portal now that the requirements have been amended.
THE CENTRE HAS IMPOSED STOCK RESTRICTIONS ON PULSES IN ORDER TO KEEP PRICES UNDER CONTROL
The Central Government amends the Removal of Licensing Requirements, Stock Limits, and Movement Restrictions on Specified Foodstuffs Order, 2016 by issuing a new order. The Removal of Licensing Requirements, Stock Limits, and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2021 is the name of the order. These items shall be placed in clause 3 of the Removal of Licensing Requirements, Stock Limits, and Movement Restrictions on Specified Foodstuffs Order, 2016, under sub-clause (2).
For the period up to 31st October 2021, all pulses (excluding Moong) will be combined, with the following stock limitations in place for all States and Union Territories:
- 200 MT for wholesaler (subject to the condition that there should not be more than 100 MT of one variety)
- 5 MT for Retailer
- Millers: Stock restrictions will be set at the higher of the last three months’ production or 25% of annual installed capacity.
- Importers will be subject to the same stock limit as wholesalers for stocks maintained in stock or imported prior to May 15, 2021.
- Stock limits for wholesalers will apply after 45 days from the date of customs clearance for stocks imported after May 15, 2021.
If the stocks owned by respective legal entities exceed the stipulated limitations, they must notify it on the Department of Consumer Affairs’ portal (fcainfoweb.nic.in) and bring it within 30 days of the issuing of this notice to the required stock limits. It must be assured that pulses stock is declared and updated on a regular basis on the Department of Consumer Affairs’ portal.