Finance Minister Nirmala Sitharaman asks PSUs, including BSNL, to clear payment dues to vendors

Finance minister Nirmala Sitharaman on Monday said she has asked central public sector undertakings, including the BSNL, to clear payment dues of vendors and contractors. She has also urged them to spend the budgeted capital expenditure without any delay.

Her comments came in response to a question from a telecom equipment provider to the BSNL who said the telecom service provider was sitting on dues of the SME sector when they are already reeling under the Covid-19 stress.

She took a few questions at an interaction she had over the video with the Bangalore Chamber of Industries and Commerce (BCIC).

“I do encourage all departments to clear the dues. In fact, I have held more than five meetings in the last three months with all central PSUs to ensure that they clear the dues except those under litigation,” the minister said.

“It is not just about outstanding dues, but I am also encouraging the PSUs to spend the capital money given to them,” she said.

The minister added that she understands the concerns raised by vendors on overdue payments.

To a question on what three factors led to India’s fast economic recovery after the Covid-induced lockdown, Sitharaman said there were no 2-3 factors.

“There is just one factor, that is , the indomitable spirit of the Indian people and that attitude to stand up and do business come what may,” she said.

“My greatest support was the spirit of Indian entrepreneurs, and the rock-like support I have received from the prime minister,” she added. TechnoCodex