The vast universe of MSME feels left out. The 3,00,000 crores would benefit only those MSMEs which already have bank loans. There are MSMEs which never felt a need for loan all these years. They do so for the first time now in very exceptional sources. They feel left out
The only consolation to other MSMEs is that they will get their long overdue bills cleared in the next 45 days. There is not even an assurance from FM that interest will be paid on MSME overdues by government as required by the MSMED Act,2006.
Section 15 of MSME Act,2006 obligates every buyer to pay the bill of a micro or small enterprise supplier within 45.days. Section 16 provides for payment of interest on delayed payment of bills .Rate of interest shall be three fimes the bank rate notified by RBI 
How is the buyer to know that supplier is micro or small enterprise? Supplier has to indicate acknowledgement number of information filed with DIC on his invoice, delivery challan and other correspondence.
If the micro or small enterprise supplier has done so, he is entitled to rights to timely payment of bills and interest on delayed payments as per section 15 and 16 as above.
Big parties in private sector dont pay the interest under section 16 as the same is liable to be disallowed as expense in income tax assessment as per provisions of MSME Act.
Normally they stop dealing with any supplier who puts information memorandum acknowlgement no.on his bill
Normally they stop dealing with any supplier who puts information memorandum acknowlgement no.on his bill
So no micro or small enterprise supplier puts information memo ack. Number on his bill. This enables them to give a disclosure in annual accounts that no money is due to MSME suppliers and auditors have to accept such disclosure absent contrary evidence.
