Recent steps taken by govt to give relief to MSMEs will accelerate wheel of economy: Nitin Gadkari

Minister of Micro, Small and Medium Enterprises, MSME,  Nitin Gadkari has said that the recent steps taken by the government to give relief to MSMEs will accelerate the wheel of economy.

He said, changing the definition of MSMEs, Scheme of Fund of Funds, Champions portal, extended credits to MSMEs will certainly accelerate the economy which had slowed down due to lockdown in the wake of Pandemic.

Addressing a Virtual MSME Conclave organized by FICCI, Mr Gadkari said, loans of about one lakh 20 thousand crore rupees have been disbursed to MSMEs out of three lakh crore rupees announced in the relief package. 
He said that instructions have been given to all Ministries, Departments and PSUs to clear pending bills of MSMEs within 45 days.

The Minister also urged all Chief Ministers to issue directions for clearing MSME dues by their State and Union Territories on priority.