“There are approximately 4,000  remaining  complaints that need  to be  resolved,  but  the  majority have been  resolved.

  This has  provided significant  relief to  several  MSMEs. Also,  it  makes them eligible for  additional credits, additional purchases,”  he said. 

  Finance Minister TV Somanathan said on Thursday that the  Union government has settled 43,904 claims worth Rs 700 crore  of  micro, small and medium enterprises (MSMEs) under the Vivad se Vishwas II  scheme ( contract dispute),  was announced in the  budget for FY24.  

 “There are approximately 4,000  remaining  complaints that need  to be  resolved,  but  the  majority have been  resolved.  This has  provided significant  relief to  several  MSMEs. Also,  it  makes them eligible for  additional credits, additional purchases,”  he said.  MSME  claims worth Rs 700  crore resolved: End  Secy 

 “There are approximately 4,000  remaining  complaints that need  to be  resolved,  but  the  majority have been  resolved.  This has  provided significant  relief to  several  MSMEs. Also,  it  makes them eligible for  additional credits, additional purchases,”  he said. 

  Finance Minister TV Somanathan said on Thursday that the  Union government has settled 43,904 claims worth Rs 700 crore  of  micro, small and medium enterprises (MSMEs) under the Vivad se Vishwas II  scheme ( contract dispute),  was announced in the  budget for FY24.  

 “There are approximately 4,000  remaining  complaints that need  to be  resolved,  but  the  majority have been  resolved. 

 This has  provided significant  relief to  several  MSMEs. Also,  it  makes them eligible for  additional credits, additional purchases,”  he said.  The Vivad se Vishwas II  program  was launched on July 15 to  resolve bidding-related  disputes  and the  deadline  for submitting  complaints  by contractors  is  October 31. Recently, the Department of Expenditure  later  extended the deadline to December 31. 

  This system applies  to all domestic  contract  disputes where one of the parties is  the  Government  of India or government  enterprises.  Under  this  scheme, for court awards  made  on or before April 30,  2023,  the  amount  of payment given  to the contractor will be  85%  of the net amount awarded/determined  by the court.  receive.  For  arbitration  awards  entered  on or before January 31, 2023, the  proposed  settlement amount  may be  up to 65  percent  of the net amount awarded. 

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