Union Minister Nitin Gadkari on Monday said the Government agencies, public sector undertakings and major industries owe an estimated Rs 5 lakh crore in outstanding payments to MSMEs.
The MSME minister said the Centre has decided that its ministries and public sector undertakings will clear outstanding payments of MSMEs within 45 days.
“State Governments, their ministries and public sector undertakings, Government of India, its ministries and undertakings, and major industries combined owe an estimated Rs 5 lakh crore to MSMEs, money that is stuck and not cleared,” Gadkari said.