Latest News
Home » MSME » Over Rs. 75,000 crore paid to MSME vendors by Government Ministries/Depts/CPSUs between June and October, 2021

Over Rs. 75,000 crore paid to MSME vendors by Government Ministries/Depts/CPSUs between June and October, 2021

The Atmanirbhar Bharat Package aims to strengthen the Indian economy and increase its competitiveness in the global market with the underlying objective of self-reliance by fulfilling its unique objective of providing financial cushion to Micro, Small and Medium Enterprises (MSMEs) by providing them collateral free loans and encouraging entrepreneurs to produce maximum goods and services within the country. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Lok Sabha today.

The Minister stated that dues of Rs. 75,471.78 crore have been paid to the MSME vendors by Government Ministries/Depts/CPSUs between 1st June 2020 and 31st October, 2021.

Giving more details, the Minister stated that the following schemes have been announced under Atmanirbhar Bharat Package to provide support for growth of MSME sector: –

  1. An Emergency Credit Line Guarantee Scheme (ECLGS) was announced in May,2020. ECLGS 2.0, ECLGS 3.0. & ECLGS 4.0. were announced on 26.11.2020, 31.03.2021 & 31.5.2021 respectively to enlarge its scope and to make it more attractive. Validity of the Scheme extended up to 31.03.2022 or till guarantees for an amount of Rs.4.5 lakh crore are issued, whichever is earlier. A Statement indicating State-wise beneficiaries of the scheme is at ANNEXURE-I.
  2. A Rs 20,000 crores Credit Guarantee Scheme for Subordinate Debt (CGSSD) for Stressed MSMEs launched on 01.06.2020. State-wise Guarantee coverage as on 02.12.2021 under CGSSD is at ANNEXURE-II.
  3. Self-reliant India Fund for equity infusion of Rs 50,000 cr. in MSMES through Fund of Funds (FoF] announced with a Corpus of Rs. 10,000 crores with remaining Rs. 40,000 crore leveraged through Private Equity/Venture Capital Funds.
  4. Definition of MSMEs revised on the basis of investment limit and turnover size.
  5. Amendment of Rule 161(iv) of General Financial Rules (GFRs 2017) to disallow Global Tender Enquiry for tenders upto Rs.200 crores with certain conditions.
  6. Other interventions viz. launching of a new portal of KVIC (www.ekhadiindia.com), upgrading the existing running portal of NSIC, adding a new component for virtual trade fair under Procurement & Marketing Support (PMS) scheme to promote e-marketing, launching the online portal ‘Champions’ covering many aspects of e- governance and e-promotion of MSMEs, linking of Udyam Registration Portal with GeM Portal, a special sub-portal within SAMADHAAN portal and an online reporting system was developed for reporting the dues and monthly payments by GOI Ministries and CPSEs to the MSMEs.

The implementation of the Schemes/Programmes introduced by the Government are reviewed from time to time, the Minister added.

About IIPnews

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

Data on Employment in MSMEs

As per Udyam registration portal, the number of persons employed in the MSMEs which are ...

Contribution of MSMEs and Cottage Industry to GDP

As per the information received from Ministry of Statistics and Programme Implementation, the share of ...

As per the information available on Sambandh Portal (as on 28.07.2022), the details of procurement ...

New Guidelines of Micro & Small Enterprises Cluster Development Programme (MSE-CDP) approved

The Government has approved New Guidelines of Micro & Small Enterprises Cluster Development Programme (MSE-CDP), ...

Government  lifts “Export Prohibition” on Bamboo Charcoal for Higher Profitability of Bamboo Industry

Government has lifted the “export prohibition” on bamboo charcoal, a move that would facilitate optimum ...

Agriculture and Tourism-Based Industries under MSMEs

As per existing guidelines, some of the activities under agriculture and tourism based enterprises are ...

Export Policy for MSMES

E-Commerce is widely considered as a medium to reduce costs related to penetration and sustainability ...

Participation of Women in MSMEs

Government of India launched the Beti Bachao Beti Padhao (BBBP) scheme in January 2015 to ...

EXPANSION OF MSME SECTOR

Promotion and development of enterprises is a State subject. The Central Government supplements the efforts ...

Safe Trade Policy

Countries including India, party to the World Trade Organization (WTO) are obliged to follow the ...

WP2Social Auto Publish Powered By : XYZScripts.com