Govt devising new plans to clear delayed payments to MSMEs

MSME vendors engaged with government and Centre Public Sector Enterprises (CPSEs) have long been reeling under awaited outstanding payments from public organisations which is posing a problem of scarce working capital.

According to official statement MSME dues worth Rs 21000 crore have already been paid in last seven months by govt enterprises. Under the dispensation of Aatmanirbhar Bharat package announced in May, MSME dues from central government agencies should have been paid in 45 days.

Acknowledging the receivables as a major problem for MSMEs, Minister of MSME and Road Transport Nitin Gadkari said at AGM of Bharat Chamber of Commerce conference, “Ministry is contemplating fresh plans and laws to find a solution of the problem.”

He also urged industries to help raise the rural economy from Rs 80,000 crore to Rs 5 lakh crore for employment generation in agriculture, rural and tribal sectors in 115 focus districts.

Cover image by Events High