New Delhi, July 29 -- The government on Tuesday introduced the Micro, Small and Medium Enterprises Development (Amendment) Bill, 2026 in the Rajya Sabha, aiming to address long-standing issues of delayed payments to small businesses and improve the overall ease of doing business.

Presenting the Bill, Union MSME Minister Jitan Ram Manjhi said that while the MSME Development Act, 2006 laid a strong foundation, evolving business environments and digital advancements necessitated reforms.

"The primary objective is to ensure timely payments, introduce stricter penalties, and make compliance easier for MSMEs," Manjhi said, emphasising that the reforms align the 2006 Act with the needs of a modern, digital economy.

Focus on Timely Payments an...