Government grants over Rs 256 crore in relief to MSMEs
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The various Ministries/ Departments of Government of India have accepted more than 10,000 claims of the Micro, Small and Medium Enterprises (MSMEs) under Vivad se Vishwas - I scheme aimed at providing relief to MSMEs for the COVID-19 Pandemic period. This has led to grant of more than Rs 256 crore to MSMEs and increased flow of bank credit through freeing up of guarantees.
The highest relief of Rs 116.47 crore has been granted by the Ministry of Petroleum and Natural Gas (MoPNG). This includes the claims settled and amount paid by the agencies under the administrative control of the MoPNG.
The Vivad se Vishwas I - Relief for MSMEs scheme was announced by the Union Finance Minister in the Budget Speech 2023-24. The scheme was launched by Ministry of Finance through Government e-Marketplace (GeM) portal on April 17, 2023. The last date for submission of claims for relief, on the GeM portal, under the scheme was July 31, 2023. GeM had developed a dedicated portal for the purpose of this scheme.
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