497 cases of delayed payment of MSMEs in Andhra Pradesh amounting to Rs 481 cr

New Delhi, Dec 8 (KNN) Across the districts of Andhra Pradesh total 497 applications are pending and the overall amount payable is Rs 481.89 crore, informed Minister of State for MSME, Bhanu Pratap Singh Verma in a written reply to the Lok Sabha on Thursday.

In districts such Parvathipuram Manyam, Anakapalli, Alluri Sitharama Raju, Kakinada, Konaseema, Eluru, Ntr, Bapatla, Palnadu, Tirupati, Annamayya, Sri Sathya Sai and Nandyal the pending dues are nil, as per the information available on the SAMADHAAN Portal from October 30, 2017 to April 30, 2022.

The highest number of pending applications is 167 in Visakhapatanam worth Rs 197.54 crore followed by Krishna with 132 applications worth Rs 108.1 crore.

Micro and Small Enterprises (MSEs) can file applications in Micro and Small Enterprise Facilitation Councils (MSEFCs) for delayed payments and after the application is admitted by the MSEFCs, it becomes a case.

The Ministry of MSME has also been urging States/UTs to set up more number of Micro & Small Enterprises Facilitation Councils (MSEFCs) for quicker disposal of cases related to delayed payments, said the minister.

The number of MSEFCs has gone up from 79 in 2019-20 to 113 in 2022-23.

Government of India has also instructed CPSEs and all companies with the turnover of Rs 500 crore or more to get themselves on-boarded on the Trade Receivables Discounting System (TReDS), an electronic platform for facilitating the discounting of trade receivables of MSMEs through multiple financiers.  (KNN Bureau)