Updated on Apr 02, 2020 07:57:44

 

Government will take effective steps to resolve the problem of delayed payments to MSMEs : Nitin Gadkari

Credit linked Capital Subsidy Scheme Re-Launched

Web Admin

Web Admin

5 Dariya News

New Delhi , 05 Sep 2019

Union Minister for Micro, Small and Medium Enterprises Shri Nitin Gadkari has said that non payment and delay in payments to MSME enterprises will be dealt with very  firmly. The Minister reiterated the Government's commitment to solve long standing problems of the MSME sector and give it the required support so that it can realize its  full potential in terms of its contribution to GDP and employment generation. The Minister was speaking at a national workshop organized by the MSME Ministry to  discuss the issue of delayed payments to MSMEs and ways to deal with it. He said that the Finance Ministry has recently taken some initiatives for the sector which will  go a long way in strengthening it. Shri Gadkari further assured that the recommendations of the UK Sinha committee will be implemented soon.Besides Ministry officials  and bankers, the workshop is being attended by entrepreneurs and various stakeholders from the MSME sector. Presentations were made by TReDS, Bombay Stock  Exchange, Chamber of Indian MS&M Enterprises, NeSL (National e-governance Services Limited) on the initiatives that are being taken to tackle the problem of delayed  payments. Many stakeholders suffering from delayed payments, spoke about their complaints and placed suggestions before the Minister and senior officials.

Nitin Gadkari appealed all the stakeholders to use MSME Samadhan Portal so that sufficient data could be gathered about wilful defaulters, register themselves on stock  exchanges and also assured them that the ministry will soon launch a marketing portal ‘Bharat Craft’ for the marketing of their products. Ministry has already notified that  all companies registered with the Companies Act, 2013 with a turnover of more than Rs. 500 crore and all Central Public Sector Enterprises shall be required to get  themselves onboarded on the TReDS (Trade Receivables Discounting System) platform, set up as per the notification of the Reserve Bank of India.The Ministry has  also notified that all companies who get supplies of goods or services from Micro and Small Enterprises and whose payments to suppliers exceeds 45 days from the  date of acceptance of the goods or services, shall submit a half yearly return of the Ministry of Corporate Affairs stating the amount of payments due and reason of the  delay.Secretary MSME Shri Arun Kumar Panda assured stakeholders that all their suggestions and problems will be looked into by the Ministry.Shri Nitin Gadkari also  Re-Launched the Credit Linked Capital Subsidy (CLCS) web portal on the occasion. CLCS is a scheme that provides 15% subsidy for additional investment up to ₹ 1 cr.  for technology upgradation by MSEs. In the relaunched scheme there is an additional 10 percent subsidy to SC-ST entrepreneurs. MoUs were also signed by the office  of DC, MSME with 11 Nodal Banks.Additional Secretary and Development Commissioner Shri Ram Mohan Mishra welcomed representatives from PSUs, Banks,  Industry association and entrepreneurs in the two day long workshop on Credit Linked Capital Subsidy and Delayed Payment of MSMEs.

 

 

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