The Government is likely to come out with a new draft policy for the micro, small and medium enterprises sector within the next three-four months.

Union Minister of MSME Kalraj Mishra said the new policy will look at revising the definition of a MSME in tune with the changing business environment, besides addressing other concerns of the sector, including access to finance.

The new definition will revisit the current levels of capital investment required to be made by various stakeholders and existing labour norms to qualify as an MSME, he told media persons on the sidelines of an interactive meeting with entrepreneurs here on Monday.

Besides the MSME Ministry, the Finance Ministry and the Reserve Bank of India were also being involved in drafting the new policy.