Categories: Business

Major industries, govt agencies owe about Rs 5 lakh cr in outstanding dues to MSME | 5 lakh crore rupees owed to MSMEs on big industries and government agencies, Union Minister Gadkari reveals

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Major industries, govt agencies owe about Rs 5 lakh cr in outstanding dues to MSME

new Delhi. Union Minister Nitin Gadkari said on Monday that MSME (micro, small and medium enterprises) owes about Rs 5 lakh crore to government agencies, public sector undertakings and large industries. He said that the government was thinking of creating a separate category of rural MSME industries to encourage setting up of units in villages.

The MSME Minister said that the Center has decided that its ministries and public sector undertakings will repay the dues of MSMEs within 45 days. In a conversation through video conferencing with members of the Kolkata Chamber of Commerce, Gadkari said that the state governments, their ministries and public sector undertakings, the Government of India, its ministries and undertakings and large industries owe a total of Rs 5 lakh crore to MSMEs. . This money from industries is stuck.

The minister said that he has also urged the state governments to pay the arrears on their departments and PSUs. He has also repeatedly appealed to big industries to settle the dues of micro, small and medium enterprises during negotiations.

Gadkari said that the government has prepared a plan to strengthen the non-banking financial companies (NBFCs) that play a key role in financing. He said that the government was thinking of creating a separate category of rural industry under MSME to encourage setting up of units in villages.

This post was published on May 25, 2020 9:07 pm

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