New Delhi, January 21: In order to boost micro, small and medium enterprises (MSME) sector and strengthen the Atmanirbhar 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." Compound Interest During Moratorium Period Can Be Waived For MSME & Personal Loans Up to Rs 2 Crore: Centre Tells SC.

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.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)