In a discussion with senior industry members of Ficci via video conferencing, the MSME minister exhorted the industry to clear pending dues owed by them to the units. "I would like to request you, major industries also have huge outstanding dues of MSMEs. The government's endeavour was to protect MSMEs, which contribute 29 per cent to the country's GDP (gross domestic product), from coronavirus-induced crisis. An order to this effect should hopefully be out in 8-10 days, which will naturally enhance their coverage," Gadkari said. The Union Cabinet had in 2018 approved changes in the basis of classifying micro, small and medium enterprises from 'investment in plant & machinery/equipment' to 'annual turnover'.

Source: The Telegraph April 14, 2020 10:18 UTC