MSME Sector Current Affairs - 2019
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The SIDBI (Small Industries Development Bank of India) and ratings agency Crisil have launched CriSidEx, India’s first MSE Sentiment Index for micro, small and medium enterprises (MSMEs). The index will help to indicate the current state and expected outlook on the MSME sector every quarter.
CRISIL-SIDBI MSE Sentiment Index (or CriSidEx) has been developed jointly by CRISIL and SIDBI. It is a composite index based on diffusion index of 8 parameters. It measures MSE business sentiment on a scale of 0 (extremely negative) to 200 (extremely positive).
The parametric feedback for the index will be captured through a survey of 1100 MSEs. CriSidEx will have 2 indices, one for ‘survey quarter’ and another for ‘next quarter’. Once trend emerges after few rounds of survey, it will provide independent time series data.
Significance of index
- Provide crucial insights into employment, business environment and foreign trade in MSME sector.
- Allow policy makers to take timely proactive steps, including those based on early warnings thrown up by survey of index.
- Provide intelligence and insights for regulators, trade bodies, lenders as well as economic and financial analysts.
- Help in forecasting business environment by capturing sentiment on various business parameters such as business situation, capacity utilisation, order book and margins.
- Flag potential headwinds and changes in production cycles in MSME sector and thus help in improving market efficiencies.
The Union Ministry of Micro, Small & Medium Enterprises (MSME) has launched MSME Delayed Payment Portal – MSME Samadhaan (http://msefc.msme.gov.in).
The portal aims at empowering micro and small entrepreneurs across country to directly register their cases relating to delayed payments by Central Ministries, Departments, CPSEs, State Governments.
The Samadhaan portal will give information about pending payment of MSEs with individual CPSEs/Central Ministries, State Governments, etc. The CEO of PSEs and Secretary of Ministries concerned will also be able to monitor cases of delayed payment under their jurisdiction and issue necessary instructions to resolve the issues.
The portal will facilitate monitoring of delayed payment in more effective manner. The information on portal will be available in public domain, thus exerting moral pressure on defaulting organisations. The MSEs will also be empowered to access portal and monitor their cases.
Micro, Small and Medium Enterprise Development (MSMED) Act, 2006 contains provisions to deal with cases of delayed payment to Micro and Small Enterprises (MSEs). As per provisions, buyer is liable to pay compound interest with monthly rests to supplier on amount at three times of bank rate notified by Reserve Bank of India (RBI) in case he does not make payment to supplier for supplies of goods or services within 45 days of day of acceptance of goods and services ordeemed day of acceptance.