Vivaad Se Vishwas: Authorities settled Rs 2,302 crore underneath Vivaad Se Vishwas scheme thus far
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The centre has acquired over 900 claims price Rs. 20,000 crore underneath the Vivaad Se Vishwas scheme (II) for contractual disputes out of which it has settled claims price Rs. 1,652 crore.
“Claims price Rs. 1,652 crore have already been settled and the rest is underneath examination by the respective Ministries/ Departments/ Organisation,” the finance ministry stated in a collection of tweets.
For the contractual dispute for Covid interval, the centre has settled claims involving greater than Rs. 650 crore by MSMEs. “As on 01.12.2023, 43,904 claims involving greater than Rs. 650 crore by MSMEs settled by the Authorities” the ministry stated.
Vivad se Vishwas scheme was introduced in Union Funds 2023-24 and was launched in two components.
The primary stage was launched on eleventh April 2023 for disputed claims throughout the Covid interval. Final date for submission of claims was 31.07.2023.The Vivad se Vishwas II scheme was launched on Could 29, 2023 for settling pending public procurement associated contractual disputes of the Central Authorities.The final date for submission of claims was 31.10.2023, which was later prolonged by one other two months to December 31.
The scheme lined all home contractual disputes the place one of many events was the Authorities of India or an organisation working underneath its management.
The scheme stated that for all courtroom awards handed on or earlier than 30 April 2023, contractors will likely be supplied settlement quantities as much as 85% of the online quantity awarded or upheld by the courtroom.
For arbitral awards handed on or earlier than 31 January 2023, the settlement quantity supplied will likely be as much as 65% of the entire quantity awarded.
The federal government has created a devoted webpage on the authorities e-marketplace (GeM) for the contractual dispute scheme.
It had stated that the eligible claims could be processed solely by way of the GeM platform, streamlining the settlement course of and making certain expeditious decision.
