Quick Summary
Procurement from and Payment to the MSEs by CPSEs goes up phenomenally in last six months Almost two and half time rise in Procurement Payment between May October, 2020 from about Rs. 2300 crore to about Rs. 5000 crore Against monthly procurement, the ratio of monthly payments also on rise from about 76% in May to about 80 % in October The ratio of monthly pendency of payment comes down from about 24% to about 20% during the period Ministry of Micro, Small Medium Enterprises (MSME
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FAQ :
Procurement from and payments to Micro and Small Enterprises (MSEs) by Central Public Sector Enterprises (CPSEs) have risen phenomenally, nearly two and a half times, in the last six months.
Procurement and payments rose from about £2300 crore in May 2020 to about £5000 crore in October 2020.
The ratio of monthly payments to MSEs increased from about 76% in May to about 80% in October, while the ratio of monthly pendency of payment decreased from about 24% to about 20% during the same period.
Initiatives like the Prime Minister's calls for 'Atmanirbhar Bharat' and 'Vocal for Local', along with the Finance Minister's announcement to pay MSME dues within 45 days, have been significant triggers.
The Ministry of MSME has actively engaged stakeholders through letters, personal discussions, and the development of an online reporting format on the Samadhan portal for CPSEs to report procurement and payment details.
The increased business and timely payments indicate improved liquidity for both CPSEs and MSEs, reflecting proactive government policies and sustained efforts by the MSME Ministry.
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