Team News Riveting
New Delhi, March 28
The Narendra Modi government’s new paperless portal to ease MSME registration – Udyam Registration has crossed the 25-lakh-registration mark.
The portal was launched on July 1, 2020. As of March 22, 2021, the portal had registered 25,07,112 MSMEs. This was up nearly 130 per cent from over 11 lakhs registered MSMEs as of November 7, 2020, according to the data from the MSME Ministry.
This was informed by MSME Minister Nitin Gadkari in a written reply to a question in the Rajya Sabha recently. Udyam Registration was integrated with the Central Board of Direct Taxes and GST networks along with the public procurement portal Government e-Marketplace for end-to-end digital registration by MSMEs.
Importantly, the Reserve Bank of India had issued a circularin August last year for clarity on the registration of existing businesses under Entrepreneurs Memorandum (EM) part II and/or Udyog Aadhaar Memorandum (UAM). The central bank had said that existing EMs part II and/or UAMs of MSMEs obtained before June 30, 2020, will continue to remain valid till March 31, 2021. According to the ministry, businesses had asked for clarity on whether existing registrations would remain valid after the government’s June 26, 2020 notification on the classification of MSMEs as per the new definition and specification of the form and procedure for registration with effect from July 1, 2020.
