6800 Cr MSME Payments Cleared in Last Three Months By Govt Agencies/Depts/PSUs

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The MSME centric issue of delayed payments seems to have created an echo, this time govt agencies have came forward with their numbers regarding their pending payments cleared to MSMEs. Various central government agencies, departments, ministries and Public Sector Undertakings (PSUs) have cleared payments to the tune of over Rs 6,800 crore owed to Micro, Small and Medium Enterprises in the last three months.

“More than Rs 6,800 crore have been paid by the Ministries and CPSEs in the last three months alone,” the MSME ministry said in a statement.

”Almost three-fourths of the monthly dues have been paid during the same month by most of the ministries and CPSEs. The pending amounts are expected to be released in the normal course of business and within 45 days,” the ministry added.

In May, the Union Finance Minister, as part of AtmaNirbhar Bharat package, had announced that government entities should make such payments within 45 days.

The Ministry of MSME said it followed up on this announcement vigorously and took up the matter with the central ministries, CPSEs and state governments.

”Particularly very active follow up has been done with the Heads of CPSEs,” it added.

The Ministry further said that to make the reporting easy, regular and seamless, a dedicated online reporting format has been made for reporting the monthly payments and monthly pendency.

The MSME Development Act of 2006 provides that such dues should be paid within 45 days.

”Active follow up is being done with the state governments for payment and regular reports.  Similar online reporting system has been devised and put in place for the states’ reporting,” it added.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

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