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Govt mulling on MSME Code for Streamlining all Regulations

Published on June 29, 2022
Current Context: The government may adopt an MSME Code that will provide a comprehensive set of norms for the sector and brings uniformity to both state and central.
Govt mulling on MSME Code for Streamlining all Regulations
  • The new code aims to streamline rules and regulations for MSMEs and improve the ease of doing business.
  • The code may also bring clarity regarding the norms for entry and exit of MSMEs.
  • Besides govt has introduced a pre-packaged insolvency resolution process for small businesses in 2021.
  • Apart from that government is also working on bringing small and medium enterprises under the ambit of the Fast Track Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code, 2016.
  • It will also help the smooth establishment of small businesses.
  • These codes are necessary as several government departments do not know which companies are MSMEs.


Q.1 Government considering bringing code on which of the following sector to streamline the rules and regulations?
a. Export-Import
b. Banking Sector
c. MSME Sector 
d. Infrastructure

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