NEW DELHI: In a bid to mitigate the financial stress of micro, small and medium enterprises (MSMEs), the finance ministry on Thursday said that over Rs 21,000 crore of MSME dues have been paid in past seven months by central government agencies and Central Public Sector Enterprises (CPSEs).
Finance Minister Nirmala Sitharaman on Thursday reviewed the situation about outstanding payments MSMEs.
Top officials including Secretary in the Department of Financial Services Debasish Panda, MSME Secretary A.K. Sharma, among others, were also present.
“Since the month of May 2020, regular follow-up and concerted efforts have been made by the government, particularly by the MSME Ministry for payment of these dues. Particular focus was placed on CPSEs and central government agencies for payment of dues to MSMEs,” an official statement said.
As part of the Aatmanirbhar Bharat package announced in May this year, MSME dues from central government agencies and CPSEs should have been paid in 45 days.
The matter came into light after MSME minister Nitin Gadkari flagged the issue.
That apart, the government has also increased its pace of procurement from the MSMEs.
It also noted that the highest level of procurement was achieved in October of over Rs 5,100 crore and payment of over Rs 4,100 crore.
Going by the reports received in first ten days for November, it said, this level of performance is expected to be surpassed as procurement of about Rs 4,700 crore and payment of about Rs 4,000 crore have been reported.