MSME dues worth Rs 77,000 Cr cleared since May 2020: MSME minister
MSME Minister Narayan Rane said the government sanctioned around Rs 3.19 crore worth of loans under the ECLGS scheme announced to help Indian MSMEs amid the COVID-19 pandemic.
MSMEs dues worth Rs 77,000 crore have been cleared since May 2020, Union Minister for MSMEs Narayan Tatu Rane announced on Twitter recently.
He said the reforms introduced by the MSME ministry—including a change in the MSME definition, more MSMEs registering on the Udyam Registration portal, Government e-Marketplace (GeM) portal, and others—have played a major role in empowering the sector.
Commemorating eight years of the Narendra Mod-led BJP government coming to power in 2014, Rane also said that around Rs 3.19 crore worth of loans were sanctioned under the Emergency Credit Line Guarantee Scheme (ECLGS) announced as part of the Aatmanirbhar Bharat Stimulus Package to help the Indian micro, small, and medium enterprises combat the COVID-19 pandemic.
He added that as of December 2021, the government has managed to save assets worth Rs 1.8 crore from becoming non-performing assets.
Meanwhile, according to the MSME delayed payment monitoring portal MSME Samadhan, over one lakh applications have been filed by the micro and small units, of which 11,002 have been mutually settled, 16,716 cases have been disposed off, and 30,358 are yet to be viewed by the council.
The MSME sector comprises over 63 million enterprises spread across the country, contributing a little over 30 percent to the nation’s GDP. The sector is the second-largest employer of the workforce, second only to agriculture.
(This story was updated to include a tweet.)
Edited by Suman Singh