New Delhi: State-owned steel companies have cleared Rs 7,673.95 crore dues of various MSMEs during FY23 which is 39.3 percent higher than Rs 5,511.07 crore paid during the preceding fiscal, the steel ministry said.
"The status of pending payments to MSMEs by CPSEs (Central Public Sector Enterprises) of the ministry is being monitored on a weekly basis to ensure payments to them within the 45 days' time limit for such payments," it said.

Steel PSUs pay Rs 876.1 cr to MSMEs during March 2023

A payment of Rs 876.1 crore was made by steel CPSEs to Micro, Small & Medium Enterprises (MSMEs) during March 2023, up by 38.1 percent on a year-on-year (y-o-y) basis and 23.1 percent higher than the previous month, the ministry said.

During the entire financial year 2022-23, steel CPSEs have made a payment of Rs 7,673.95 crore to MSMEs, which is 39.3 percent higher than Rs 5,511.07 crore payment made during FY 2021-22. CPSEs under the administrative control of the steel ministry include SAIL, NMDC, RINL, KIOCL, MOIL, MECON, MSTC, and its subsidiary FSNL.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)