advertisement
The government on Friday proposed creating a payment platform for micro, small and medium enterprises (MSMEs) to enable filing of bills and facilitate timely payments.
"Government payments to suppliers and contractors are a major source of cash flow especially to SMEs and MSMEs. Investment in MSMEs will receive a big boost if these delays in payments are eliminated," Sitharaman said.
Besides, she said, Rs 350 crore has been allocated for 2019-20 for 2 per cent interest subvention for all GST-registered MSMEs for fresh or on incremental loans under the interest subvention scheme for such enterprises.
She said in two years, 300 entrepreneurs have emerged as a result of Standup India scheme.
The scheme will be continued for the entire period coinciding with the tenure of 15th Finance Commission (2020-2025), the finance minister added.
(At The Quint, we question everything. Play an active role in shaping our journalism by becoming a member today.)