December 21, 2018
Dinesh Trivedi raises the issue of job losses in MSME sector due to demonetisation and GST
FULL TRANSCRIPT
Madam, I am grateful to you for giving me the time. I assure you that I am not going to take more than one and a half minutes.
Madam, this issue concerns all sides of the aisles; it doesn’t matter where they sit. Madam Speaker, it is disturbing to know that the micro and small scale industries (MSMEs) and traders have reported a huge decline in jobs and profits in the last one and half years particularly after the rollout of GST and demonetisation.
As per the latest survey, I know that the organisation of manufacturing consists of 3 lakh members. According to the survey, the MSME segment has lost 35 lakh jobs in the last four and a half years. There was a job loss of 32.7 per cent in the micro sector, 35 per cent in the small business segment and 24 per cent loss in the medium segment, 34 percent in various segment. The worst hit segment remains the unorganized sector. The operating profit of the trader also fell drastically by 70 percent.
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