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Disposal of delayed payment cases by micro, small industries at 5-year low

The government in the Budget announced that buyers would be allowed to claim a tax deduction for payments made to MSMEs only after they make a payment to them

Nikesh Singh New Delhi
MSEs
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The data on the MSME Samadhaan portal showed 139,290 applications regarding cumulative delayed payment of 35,369 crore were filed by MSEs until April 22, 2023

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The disposal to delayed payment cases involving micro and small enterprises (MSEs) hit a five-year low in FY23. Only 1,097 cases involving Rs 358 crore were settled during last financial year -- 74 per cent less than 4,188 cases (involving Rs 768 crore) disposed of by Micro and Small Enterprises Facilitation Councils (MSEFCs) in FY22, according to official data.
MSEFCs are set up by state governments for settling disputes regarding delayed payments to MSEs. The central government launched the MSME Samadhaan scheme under which MSMEs that faced more than a 45-day delay in payment could approach MSEFCs in a bid to fast-track the settlement of dues.
The data reviewed by Business Standard showed 29,252 applications involving Rs 7,094 crore were filled by MSEs in FY23 against central ministries, departments, central public sector enterprises, state governments, and others. The number of applications filed during last financial year was down
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First Published: Apr 24 2023 | 7:27 PM IST

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