The Government has said that Micro, Small and Medium Enterprises (MSMEs) will receive their pending payments within the 45-day deadline set by the Government.
Union Finance Minister Nirmala Sitharaman said this in Parliament.
The Minister said, “I have over the last year (2020) reviewed it from the point of view of Central Government and various departments which owe money to the MSMEs, inclusive of public sector undertakings (PSUs). We have made sure that standard, as per rule 45 days, be not crossed and all dues be paid from the Government side to the MSMEs.”
It is pertinent to mention here that around 70 per cent of Indian textile and apparel industry is in MSME sector and it is facing plenty of challenges on various fronts.
If Government really executes its announcement, it will be a big support for the industry.
The Minister added that the digital platform, where MSMEs’ payments can be discounted, is actively encouraged by the Government.
“As far as the Central Government is concerned, we have taken this position that any pending payment will have to be given within 45 days and I am personally monitoring it,” she said.
Notably, MSMEs play a significant role in nation-building and making the economy stronger. They contribute about 29 per cent to the country’s Gross Domestic product (GDP) and employ more than 11 crore people.
Bharat Tex Special Report 2026 
