Govt to clear pending payment of MSMEs in 45 days: Nirmala Sitharaman – Livemint

The Central Government has taken this position that any pending payment to MSMEs will have to be given in 45 days and I am personally monitoring it, Nirmala Sitharaman answered a question on Govt dues to MSMEs during the Question Hour in the Lok Sabha today.

Micro, Small and Medium Enterprises (MSMEs) popularly called MSMEs are the backbone of the Indian economy. Silently operating in different areas across the country, more than 6 crore MSMEs have a crucial role to play in building a stronger and self-reliant India. These small economic engines have a huge impact on the country’s GDP-making a contribution of 29 per cent. They contribute to almost half of exports from the country. Additionally, more than 11 crore people are employed in the MSME sector.

As many as 13.06 lakh MSME loan accounts with an aggregate amount of 55,333 crore have been restructured by public sector banks till June 25 this year, Parliament was informed on Thursday.

MSME minister Narayan Rane also said that till July 2, 2.73 lakh crore have been sanctioned under the Emergency Credit Line Guarantee Scheme.

The scheme was launched for an emergency credit line of up to 4.5 lakh crore to businesses including micro, small and medium enterprises (MSMEs) and the same is backed by a 100 per cent central government guarantee.

Till June 25 this year, “13.06 lakh MSME loan accounts with an aggregate amount of 55,333 crore have been restructured by public sector banks,” he said in a written reply to the Lok Sabha.

-With agency inputs

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