Government launches online portal - MSME SAMADHAAN to resolve problem of delayed payments

New Delhi, Oct 31 (KNN) Minister of State (Independent Charge) for Micro, Small and Medium Enterprises (MSMEs) Giriraj Singh recently launched the MSME Delayed Payment Portal MSME SAMADHAAN which will enable MSMEs to register cases related to the delayed payments by Central Ministries, Departments, CPSEs and State Governments.

The portal is expected to facilitate the monitoring of the delayed payment in a more effective manner. The information on the portal will be available in public domain, thus exerting moral pressure on the defaulting organizations.

Speaking at the launch event the minister said that MSME sector is the backbone of the Indian economy. The sector accounts for 80% of the total job opportunities in the country but possesses only 20% of the total capital.

Highlighting the policies introduced by MSME ministry like Udyog Aadhaar Memorandum (UAM), ZERO defect zero effect, he said that due to delay payment many MSME industries get converted  to NPA .

In an attempt to tackle this concern, the government has come up with the samadhaan portal to empower the MSMEs which will ensure the payment within 45 days of filing the complaint.

He encouraged all the MSMEs to register on the database portal which will benefit and empower them to grow and expand. (KNN/AG)