Union Finance Minister Nirmala Sitharaman has asked the private sector to clear dues of micro, small and medium enterprises within 45 days. She appealed to them to ensure that the dues of smaller businesses that are the backbone of the economy are cleared in time.
She also said the central government too will be taking steps to resolve the issue by ensuring that departments and central public sector enterprises make the payments to small businesses in 90 days.
The minister highlighted various government schemes like the Treds (trade receivables discounting system) platform and also the Samadhan portal, which have helped small businesses to get timely payments.
Listing out the various initiatives rolled out to support the sector, she named the Rs 6,000-crore—RAMP (racing and accelerating MSME performance) scheme for exporters and the Rs 500-crore digital transfers to 18,000 MSMEs under the self-reliance scheme, which has a total outlay of Rs 5,000 crore.
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