Suggestions to make ‘Vivad se Vishwas’ scheme attractive for MSMEs
[ad_1]
copy photo
google creative commons
A senior government official gave this information on Tuesday. Apart from this, the industry has also asked for a better grievance redressal system on a digital portal and a system for settlement of disputes before the process of arbitration begins.
Industry has suggested making the ‘Vivad se Vishwas’ scheme announced in the budget more attractive in terms of reimbursement and interest rates for micro, small and medium enterprises (MSMEs). A senior government official gave this information on Tuesday. Apart from this, the industry has also asked for a better grievance redressal system on a digital portal and a system for settlement of disputes before the process of arbitration begins.
These issues were raised by the industry during the post-Budget webinar on Ease of Doing Business using Technology organized by the Department for Promotion of Industry and Internal Trade (DPIIT). For relief to MSMEs, Finance Minister Nirmala Sitharaman has announced ‘Vivad se Vishwas’ scheme in the budget of 2023-24. Under this scheme, the government will return 95 percent of the forfeited amount related to the bid or performance security of those MSMEs who could not execute the contracts during the period of Kovid. DPIIT Joint Secretary Manmeet K Nanda told reporters that the government would look into the issues raised during the meeting.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
other news
[ad_2]
Source link
