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Public sector steel companies paid over Rs 692.36 crore to MSMEs in May 2023

20 Jun 2023 Evaluate

Ministry of Steel has said that public sector steel companies paid over Rs 692.36 crore to micro, small and medium enterprises (MSMEs) in May 2023, 35.6 per cent higher than the payment made in the same month last year.

During April-May 2023, steel Central Public Sector Enterprises (CPSEs) have made payment of Rs 1,321.32 crore to MSMEs, which is 23.8 per cent higher than Rs 1,067.53 crore made during the corresponding period of preceding 2022-23 fiscal. 

The status of pending payments to MSMEs by CPSEs of the steel ministry is being monitored on a weekly basis to ensure that dues are cleared within the 45-day deadline.