New Delhi, July 17 -- The Centre is set to introduce amendments to the MSME Development Act in the upcoming monsoon session of Parliament, aiming to address long-standing challenges faced by micro, small and medium enterprises (MSMEs), particularly in accessing timely payments and finance.

Focus on Faster Payments and Dispute Resolution

According to government officials, the proposed changes seek to improve cash flow by enabling quicker resolution of payment-related disputes. MSMEs, which often operate on thin margins, are heavily dependent on timely payments from buyers. Delays in receiving dues have been a persistent concern, frequently disrupting business operations.

To address this, the government plans to introduce an online dispu...