Union Cabinet meeting to take place tomorrow

New Delhi [India], June 2 (ANI): A meeting of Union Cabinet is scheduled to be held at the Prime Minister's residence, 7 Lok Kalyan Marg, on Wednesday.

On Monday, the Union Cabinet approved the modalities for implementing Rs 50,000 crore equity infusion to support Micro, Small and Medium Enterprises (MSMEs), which was announced last month as part of Atmanirbhar Bharat Package to help the sector cope up with the situation created by COVID-19.

It had also approved Rs 20,000 crore subordinate debt for stressed MSMEs and a new definition for MSME, under which enterprises with investments up to Rs 20 crore and a turnover of less than Rs 250 crore will now be defined as 'medium' units. (ANI)