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MSMEs, SMEStreet, Lok Sabha, Parliament, Narayan Rane LimeLight

Big Relief to MSMEs for COVID-19 Period; Govt fulfils Promise Announced in Union Budget 2023-24

The order has been issued as a follow-up to the “Vivad se Vishwas-I” scheme announced in the Budget Speech 2023-24 by the Union Finance Minister.  In Para 66 of the Budget Speech, she had announced that: “In cases of failure by MSMEs to execute contracts during the COVID period, 95 per cent of the forfeited amount relating to bid or performance security will be returned to them by Government and Government undertakings. This will provide relief to MSMEs”.

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