Credit and Finance for MSMEs: The number of applications filed by MSEs, against payments due by buyers beyond 45 days of the acceptance of goods or services rendered, as on October 16 was 27,380 while the number of applications being disposed of was 1,528.
The portal to file applications by MSMEs with respect to delayed payments — MSME Samadhaan is increasingly seeing the number of applications being settled or disposed of, according to Sudhir Garg, Joint Secretary, Ministry of MSME. Garg told Financial Express Online that “whatever problems MSMEs are sharing on the portal, are getting solved increasingly day by day. The portal has been well received by MSMEs. We have received a positive response from MSMEs regarding the portal.”
The number of applications filed by micro and small units, against payments due by buyers beyond 45 days of the acceptance of goods or services rendered, as on October 16 was 27,380 while the number of applications being disposed of was 1,528. The amount involved in applications filed was Rs 7,144.23 crore vis-a-vis Rs 308.20 crore involved in disposed cases. The number of applications is up from 24,486 involving Rs 6,274.66 crores and 1,420 disposed of applications on September 5, 2019.
Even as Garg cited increase in number of disposed cases, according to MSME Minister Nitin Gadkari there is not sufficient data (cases) against wilful defaulters and that “the number (of cases) filed is very less,” he had said in September this year at an event organised by the ministry on the delayed payment issue. “I would urge all who are part of the MSME sector to register whatever their concerns are at the portal. Government undertaking, government departments, state governments also don’t pay to MSMEs. For me to tell this to cabinet secretary or write to all of them, we should have a record (of cases),” he had said.
Garg, speaking at a FICCI event on Wednesday called for the participation of various stakeholders in the MSME ecosystem by building partnerships in order to expand the reach of technology to MSMEs. “Expanding reach of technology to the last leg of MSMEs can happen with the participation of all stakeholders. For this building partnership is key. Accordingly, the Ministry of MSME has been laying emphasis on the adoption of practices like lean manufacturing, design improvements, setting up common facilitation centres, digitisation etc.”
Government has recently launched a three-year project Tech Saksham to organise workshops in cities that have industrial clusters to enable technology adoption among MSMEs. The government is also planning to launch a networking portal for MSMEs this year to strengthen their collaboration with foreign MSMEs and forge partnerships, MSME Ministry Secretary Arun Kumar Panda had said at an event last month.