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45-day payment rule: New fund will work with banks to help MSME units, says FM Sitharaman

Economic Times LogoEconomic Times4d ago

45-day payment rule: New fund will work with banks to help MSME units, says FM Sitharaman - Economic Times

Quick Summary:

Finance Minister Nirmala Sitharaman revealed that the government is establishing a new fund to help MSMEs facing financial issues due to delayed payments.

The budget has also offered collateral-free loans for MSMEs and proposed a Rs 1000 crore venture capital fund for the space sector.

Traders must now clear MSME bills within 45 days according to Section 43B(h) of the Income Tax Act.


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45-day payment rule: New fund will work with banks to help MSME units, says FM Sitharaman - Economic Times (Picture 1)

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Article Details

Author / Journalist: ET Bureau

Category: Business

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-28 @ 19:04:15 (4 days ago)

News Timezone: GMT +8:00

News Source URL: economictimes.indiatimes.com

Language: English

Article Length: 777 words

Reading Time: 5 minutes read

Sentences: 26 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Economic Times

News ID: 21887867

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About Economic Times

Economic Times Logo

Main Topics: Business

Official Website: economictimes.indiatimes.com

Update Frequency: 4 posts per day

Year Established: 1961

Headquarters: India

News Last Updated: 21 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #84

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  • URL: https://beamstart.com/news/45-day-payment-rule-new-17225293186097

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