₹1 lakh cr. fund to repay MSME dues 

#GS3 #Economy 

  • The Centre is working on a scheme to address the issue of delayed payments to MSMEs wherein a ₹1-lakh- crore dedicated fund will be created to reimburse outstanding payments owed by Central and State government undertakings as well as major industries. 
  • A decision to set up a fund of ₹1 lakh crore, will insure this fund with the government paying the premium.  
  • A formula for sharing of the interest burden between the paying entity, payment-receiving entity and banks against this fund, for the payments due to MSMEs that are stuck with the PSUs, Central and State governments, and major industries. 
  • The Minister for MSME and Road Transport and Highways said the fund will impart relief to the sector to a certain extent. 

Mooted a proposal to Labour Minister to make use of the ₹80,000 crore lying with the ESIC to tide over the immediate crisis faced by the MSMEs, as pressure for April salaries and wages was mounting. 

 

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