Since its inception four years ago, to help Indian SMEs receive prompt payments, the Samadhaan scheme has been drowning in applications seeking relief.
The number of applications received, reports suggest has crossed well past 1 Lakh. Of which, only 20% have either been repaid or mutually negotiated with buyers. 39% have yet to even be seen by a government official, while 27% are under due process at the moment. Meanwhile, the running total of delayed payments is fast approaching a hammer-blow 25,000 crore.
Calculations show, that it would take years to resolve the outstanding dues. The only viable solution seems to be a digital intervention that would fast-track the process and reduce manual labour.
Good news for those who could come up with a digital solution to automate the Samadhaan system. Dire news for those who petitioned for aid under the scheme.