MM TAX CLUB

As per the information available in the SAMADHAN portal, as on 03.02.2022, the total outstanding payments to the Micro and Small Sector since 01.04.2020  is Rs 11,741.21 crore.

Ministry of MSME has notified the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, which provides for setting up of Micro & Small Enterprises Facilitation Councils (MSEFCs) in the States/UTs to deal with cases of delayed payments of the Micro and Small Enterprises (MSEs). Ministry has also launched a web portal called ‘SAMADHAAN’ on 30.10.2017 for monitoring of the outstanding dues to the MSEs from the buyers of goods and services. In addition to this, a special sub-portal within SAMADHAAN portal was also launched on 14.06.2020 for monitoring the dues and monthly payments by Ministries/Departments of Government of India and CPSEs to the MSMEs.  Ministry of MSME also takes up the issues of delayed payments to MSEs with States/Union Territories from time to time.

The Government of India has announced a series of measures under Aatma Nirbhar Bharat to support the economy, especially the MSME sector. This inter-alia includes (i) Rs. 20,000 crore Subordinate Debt for stressed MSMEs; (ii) Rs. 50,000 crore equity infusion through MSME Fund of Funds (SRI Fund); (iii) 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for Businesses, including MSMEs (which has subsequently been increased to Rs. 5 lakh crore); (iv) New Definition of MSME (v) No Global tenders for Government procurements upto Rs. 200 crore.

Ministry of MSME implements Credit Guarantee Scheme for Micro and Small Enterprises under which new and existing Micro and Small Enterprises engaged in manufacturing or service activity can avail collateral free loans upto an amount of Rs. 200 lakh from Banks and Member Lending Institutions.

This information was given by Union Minister for Micro, Small and Medium Enterprises, Shri Narayan Rane in a written reply in Rajya Sabha.

Press Release