Covid 19: Impact of Msmeson Indian Economy

Abstract

In developing countries like India, entrepreneurship in MSMEs has gained much significance in the economy than large industries in the market just because of the contribution of these MSMEs to the GDP of the country, generation of employment opportunities, balanced regional development, localization of the products, less marketing costs and etc. This paper concentrates on the issues faced by MSMEs during COVID 19 pandemic period, relief measures offered by the Government and the alternatives to be taken by the concerned sectors. Secondary data from various reports, updated news materials and earlier research studies were taken into account to extract the necessary details to give this write up. The old definition used during 2006, new definition given by our new Union finance minister and the updated definition during the COVID 19 period were also considered for the study.