SC: For Granting Environmental Clearance, Valid DSR a Mandatory Prerequisite  ||  NCLAT: Under IBC there is No Provision Mandating RP to Share Valuation Report  ||  NCLAT: NCLT/NCLAT Cannot Adjudicate Employment Contract Disputes Under IBC  ||  NCLAT: Can’t Reject App. for Approval of RP Solely on Basis of Withdrawal of Consent by CoC Members  ||  J&K HC: S. 37 of NDPS Act Comes Into Play When Bail of Accused is Being Considered on Merits  ||  Delhi HC: In National Capital, Permission for Felling of More Trees to be Supervised by CEC  ||  Registrar General of P&H HC Warns of Contempt in Case of Recording of Court Proceedings  ||  SC: States to Identify Laws Discriminating Against Persons Affected with Leprosy  ||  SC: Recommendations Made by SC Collegium for Judge Appointments to be Cleared Expeditiously  ||  SC: Where Serviceman Discharged from duty by Authority Onus of Proving Disability Lies on Authority    

Government launches Vivad se Vishwas scheme for relief to MSMEs - (02 May 2023)

Commercial

Central Government has launched the scheme, “Vivad se Vishwas I – Relief to MSMEs”. The scheme was announced in the Union Budget 2023-2024 by Union Finance Minister Smt. Nirmala Sitharaman. The Ministry of Finance, had issued an order indicating the broad structure of the scheme. Final instruction in this regard, extending the relief to cover more cases and relaxing the limits of refunds was issued on 11th April, 2023. The scheme was commenced from 17th April, 2023 and the last date for submission of claims is 30th June, 2023.

The relief provided under the scheme is in continuation to the efforts of the government in promoting and sustaining the MSME sector. As per the scheme, Ministries have been asked to refund performance security, bid security and liquidated damages forfeited/ deducted during the COVID-19 pandemic. Certain relief has also been provided to MSMEs debarred for default in execution of contracts during the COVID-19 period. Government e-Marketplace (GeM) has developed a dedicated web-page for implementation of this scheme. Eligible claims shall be processed only through GeM.

The Ministry of Finance, through this scheme, decided to give following additional benefits to eligible MSMEs, affected during the COVID-19 period:

i. 95% of the performance security forfeited shall be refunded.

ii. 95% of the Bid security shall be refunded.

iii. 95% of the Liquidated Damages (LD) deducted shall be refunded.

iv. 95% of the Risk Purchase amount realized shall be refunded.

v. In case any firm has been debarred only due to default in execution of such contracts, such debarment shall also be revoked, by issuing an appropriate order by the procuring entity.

However, in case a firm has been ignored for placement of any contract due to debarment in the interim period (i.e. date of debarment and the date of revocation under this order), no claim shall be entertained.

vi. No interest shall be paid on such refunded amount.

Tags : VIVAD-SE-VISHWAS SCHEME   GOVERNMENT SCHEME   MSME  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved