Here are some of the major highlights as far as announcement for MSMEs are concerned made by Finance Minister Nirmala Sitharaman today under the Atma-nirbhar Bharat Abhiyan
1) MSME dues to be cleared in 45-days
All MSME money that is to be received from the Government and CPSEs will be cleared In 45-Days.
2) Subordinate debt for stressed MSMES
The government will assist with up to Rs 20,000 crore liquidity as subordinate debt for stressed MSMEs which are in need of support. 2 lakh MSMEs are likely to benefit.
3) Global tenders disallowed to make MSMEs more competitive
Global tenders for Government procurement upto Rs 200 Crores will be disallowed. This will make MSMEs do their business with a lot of confidence, Finance Minister Nirmala Sitharaman said. This will also boost the Make In India program as well.
4) Fund Of Funds For MSMEs
A fund of funds for MSMEs has been set-up with a sum of Rs 50,000 Crore. The government will provide equity funding for MSMEs with growth potential.
5) Special liquidity schemes for MSMEs
A special liquidity scheme of Rs 30,000 crores has been launched by the Government to meet the liquidity of NBFCs, HFCs and MFIs.