MSME Sector On Upswing Says Finance Ministry

Union Minister of Finance Nirmala Sitharaman reviewed the situation about payment to the MSMEs and expressed satisfaction and appreciation on the excellent work done by the Ministry of MSME. As part of Prime Minister of India's vision the Finance Minister had announced Atma Nirbhar Bharat package in May, 2020, it was also stated that the MSME dues should be paid in 45 days. Since the month of May 2020, regular follow-up and concerted efforts have been made by Government of India, particularly by the MSME Ministry for payment of these dues. Particular focus was placed on Central Public Sector Enterprises (CPSEs) and the Central Government Agencies for payment of dues to MSMEs. As a result, over Rs 21000 crore of MSME dues have been paid in past 7 Months since May 2020 by the Central Govt Agencies and CPSEs. The highest level of Procurement was achieved in October of over Rs 5100 crore and payment of over Rs 4100 crore.

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