38.6c New Delhi, India, Sunday, August 24, 2025
Top Stories Supreme Court
Political NEWS Legislative Corner Celebstreet International Videos
Subscribe Contact Us
close
Executive

"Government Committed to Clear MSME Dues Within 45 Days": Nirmala Sitharaman

By Nargis Bano      29 July, 2021 03:00 PM      0 Comments
Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman reaffirmed the government's commitment to ensuring that Micro, Small and Medium Enterprises (MSMEs) receive their outstanding payments within the 45-day deadline set by the government. 

On Monday July, 26, 2021, she stated the above while responding to a question about the issue in the Lok Sabha.

"I reviewed it over the last year (2020) from the perspective of central government and various departments that owe money to MSMEs, including public sector undertakings (PSUs). We have ensured that the 45-day rule is not broken and that all dues are paid to MSMEs from the government side, "Sitharaman explained.

The minister went on to say that the government is actively encouraging the development of a digital platform where MSMEs' payments can be discounted.

"As far as the central government is concerned, we have taken the position that any pending payment must be made within 45 days, and I am personally monitoring it," Sitharaman said.

When it comes to Goods and Services Tax (GST) payments, the finance minister stated that the GST Council will have the final say. "The GST Council will have to respond on how they want the states to participate in this scheme of things. When we say government dues, we mean not only central government or central PSU dues, but also state government and state government-owned PSU dues," Sitharaman explained. 

MSMEs play an important role in nation-building and economic growth. They account for approximately 29% of the country's GDP and employ more than 11 million people.

As of July 2, 2021, this year, around Rs. 1.09 crore MSME borrowers had received guarantee support totaling 2.73 lakh crore under the Emergency Credit Line Guarantee Scheme (ECLGS), MSME minister Narayan Rane said in the Rajya Sabha last week.

Rane announced on Thursday July 22, 2021, that public sector banks had restructured MSME loan accounts totaling Rs. 55,333 crores by June 25, 2021, of this year.

In a separate response, he stated that since the inception of the Prime Minister's Employment Generation Programme until (July 9, 2021) 6,97,612 units (including those set up by farmers) have been established with MM (margin money) subsidies totaling Rs. 16,688.17 crores.



Share this article:



Leave a feedback about this
TRENDING NEWS

adult-woman-free-to-live-with-married-man-personal-autonomy-prevails-over-morality
Trending Judiciary
Adult Woman Free To Live With Married Man, Personal Autonomy Prevails Over Morality: Madhya Pradesh HC [Read Order]

Adult woman has right to live with married man, rules MP High Court; says personal autonomy outweighs moral concerns.

23 August, 2025 04:00 PM
sc-issues-notice-to-bci-on-plea-against-3-yr-moratorium-on-new-centre-for-legal-education
Trending Judiciary
SC issues notice to BCI on plea against 3-yr moratorium on new centre for legal education

SC issues notice to BCI on plea challenging 3-year moratorium on new legal education centres, calling it arbitrary and violative of fundamental rights.

23 August, 2025 05:13 PM

TOP STORIES

sc-dismisses-plea-against-quashing-fir-in-case-of-suicide
Trending Judiciary
SC dismisses plea against quashing FIR in case of suicide of then MP Mohan Delkar

SC dismisses plea against quashing of FIR in ex-MP Mohan Delkar suicide case; Bombay HC’s 2022 order stands, no interference by Supreme Court.

18 August, 2025 12:21 PM
no-automatic-arrest-on-rejection-of-anticipatory-bail-supreme-court
Trending Judiciary
No Automatic Arrest on Rejection of Anticipatory Bail: Supreme Court [Read Order]

SC clarifies that rejection of anticipatory bail doesn’t mean automatic arrest; custody depends on investigation, conduct, and case facts.

18 August, 2025 12:27 PM
court-holds-surgeon-guilty-of-indulging-in-black-magic-during-hearing-sentenced-till-rising-of-court
Trending Judiciary
Court holds Surgeon guilty of indulging in black magic during hearing; sentenced till rising of court [Read Order]

Delhi court convicts surgeon for disrupting proceedings with ‘black magic’; sentenced till rising of court with ₹2,000 fine after apology.

18 August, 2025 12:40 PM
want-bravehearts-to-be-in-forces-sc-for-giving-insurance-cover-to-cadets-discharged-during-military-training
Trending Judiciary
'Want bravehearts to be in forces,' SC for giving insurance cover to cadets discharged during military training

SC seeks insurance cover, rehab and higher aid for cadets injured during military training, stressing need to support bravehearts joining armed forces.

18 August, 2025 04:00 PM

ADVERTISEMENT


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email