Parliament passes MSME Development (Amendment) Bill, 2026

9 August 2026National

Parliament passed the Micro, Small and Medium Enterprises Development (Amendment) Bill, 2026 — cleared by the Rajya Sabha on 3 August and the Lok Sabha on 7 August 2026. It is the first major overhaul of the MSMED Act, 2006 in its 20-year history, targeting delayed payments to MSMEs and aiming to simplify dispute resolution. MSMEs registered on the Udyam portal have surged from 1.65 crore (April 2023) to about 9.16 crore; the sector employs over 40 crore people and is called the backbone of the Indian economy.

Static GK

MSMED Act notified: 2006 | Registration portal: Udyam | Revised MSME classification (2020) uses investment + turnover | Delayed-payment redress via MSME Samadhaan / MSEFCs

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Parliament passed the MSME Development (Amendment) Bill, 2026 — the first overhaul of the 2006 Act — for faster payments and quicker dispute resolution.

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