Mandatory to clear all dues of MSMEs within stipulated time of 45 days: Centre

Centre today said in view of Covid pandemic it has made it mandatory to clear all the dues of MSMEs within a stipulated time of 45 days to provide relief to such entities.

In reply to a question in the Lok Sabha, Finance Minister Nirmala Sitharaman said all the dues of MSMEs pending at the Centre are being cleared under this stipulated time frame.

On the clearance of GST related issues she said the GST council has to take a call on pending GST.

The minister also said to provide further support to ailing small business units, micro and small industries and other unorganized sector entities the RBI has announced special three year long term repo operations (SLTRO) of 10,000 crore rupees.

Finance minister said the fund will be deployed for fresh lending of upto 10 lakh rupees per borrower and the facility will be available till October 31st this year.

(AIR)