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In News
- The Ministry of Finance has launched the scheme, “Vivad se Vishwas I – Relief to MSMEs”.
More about News
- The scheme was announced in the Union Budget 2023-24.
- 95 % of the forfeited amount relating to performance security, bid security and liquidated damages forfeited/ deducted during the COVID-19 pandemic will be returned to MSMEs.
- In case any firm has been debarred only due to default in execution of such contracts, such debarment shall also be revoked.
- Government e-Marketplace (GeM) has developed a dedicated web-page for implementation of this scheme. Eligible claims shall be processed only through GeM.
Government e-Marketplace (GeM)
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Vivad Se Vishwas scheme
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For further reading on MSMEs , kindly follow this link https://www.nextias.com/current-affairs/14-03-2022/micro-small-and-medium-enterprises-msmes-sector
Source: TH
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