In order to boost micro, small and medium enterprises (MSME) sector and strengthen the Atmrbhar Bharat programme, the Central Government is looking forward to bringing a law that will make it mandatory to pay the dues of MSMEs within 45 days, said Union Minister of Micro, Small and Medium Enterprises Nitin Gadkari on Wednesday.
Addressing the members from All India Association of Industries, Gadkari said, "All MSME receivables should be paid within 45 days. Delayed payment is a major problem faced by MSMEs. We are thinking to bring a law to protect their interests."
The Minister said the government is looking forward to introducing legislation mandating public sector undertakings to settle the dues of MSMEs within 45 days of sale.
( With inputs from ANI )
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