Page 17 - IMDR MSME BOOK 2021

Managing Finance in Micro, Small & Medium Enterprises
have been taken for improving infrastructure, techno-
logy, and quality. Testing Centres have been set up for
quality certication and new Tool Rooms as well as Sub-
contracting Exchanges have been established. The
SIDBI and a Technology Development and Moderniza-
tion Fund have been made to quicken money and
specialized administrations to the area. Deferred
Payment Act has been sanctioned to encourage brief
instalment of levy to MSMEs, and the Industrial
Infrastructure Development (IID) plot has been propelled
to set up smaller than expected mechanical domains for
little ventures. 1999 onwards: The Government of India
has built up the Ministry of Small-Scale Industries and
Agro and Rural Industries (SSI&ARI) in October 1999 as
the nodal service for plan of arrangements and Central
area projects or plans, their execution and related
coordination and for enhancing the endeavours of the
States or Union Territories for advancement and
improvement of these ventures in the nation. The service
of SSI&ARI has been bifurcated into two separate
services ministries of Small-Scale Industries and
Ministry of Agro and Rural Industries, in September
2001. Before the usage of MSMED Act, 2006, the
segment had been characterized, according to the
arrangement of Industries Development and Regulation
Act 1951, as SSI division. What's more, its constituent
minor and helper units according to the occasional
update of criteria for characterizing such units. Micro,
Small and Medium Enterprises Development Act
(MSMED), 2006 The order of "Miniaturized scale, Small
and Medium Enterprises Development (MSMED) Act
2006, by the President under Notication dated ninth
May 2007 has corrected the Government of India
(Allocation of Business) Rules, 1961. According to this
correction, Ministry of Agro and Rural Industries and
Ministry of Small-Scale Industries have been converged