www.thenewsroom.co.in www.thenewsroom.co.in
16 Jun 2019·
News Flash
Cyclone Vayu Unlikely to Make Landfall In Gujarat: IMD * Odisha: +2 Arts, Commerce Results to Be Declared Next Week * Odisha’s Valena Valentina Clinches Gold at National Karate Championship * One in Five Persons Living in Conflict Affected Areas Suffers from Mental Illness, New UN Figures Reveal * Naveen Congratulates DRDO for Successful Test Firing of HSTDV off Odisha Coast * BJP's Newfound Bonhomie has Many Questions to Be Answered * BJP in Dilemma to Elect Leader of Opposition in Odisha Assembly! * DRDO Successfully Test-Fires HSTDV off Odisha coast * IAF Begins Rescue and Search Operations for AN-32 Crash Survivors * Odisha: Fire Services Dept Conducting Fire Safety Inspection & Awareness Drive at Coaching Centres across State * Vintage Naveen in a New Avtar * AIIMS MBBS Entrance Exam Result to Be Announced Today * Gujarat to Seek Odisha’s Help in Combating Cyclone Vayu * Power Tariff to Remain Unchanged for 2019-20 in Odisha: OERC * Naveen Meets President Ram Nath Kovind * Ex-MLA K Surya Rao Quits Congress * Wreckage of Missing IAF Jet AN-32 Found in Arunachal Pradesh after 8 Days * Odisha: NDMA Team Visits Fani-Affected Areas to Oversee Restoration Works * Odisha Govt to Formulate New Agriculture Policy * Odisha: Assistant Statistical Officer in Vigilance Net in Balasore * All TV Channels to Be Allowed to Telecast Rath Yatra 2019 * Shikhar Dhawan Ruled Out of Team India for ICC Cricket World Cup 2019 For Three Weeks Due to Thumb Injury * Mulayam Singh Admitted to Gurgaon Hospital * Two Odias Killed in Nepal Road Mishap * Odisha Scientist Mrutyunjay Mahapatra Appointed as India’s Permanent Representative with WMO


Demonetisation Cost India 35 Lakh Jobs

Demonetisation Cost India 35 Lakh Jobs

New Delhi: The much-hyped demonetisation by Prime Minister Modi-led government has cost the country a whopping 35 lakh jobs. The MSME sector of the country has been the primary looser of the govt’s decision to demonetise the high value notes.

Small and marginal trading along with the micro, small and medium enterprises sector lost 35 lakh jobs during the last four-and-a-half years, a survey by the All India Manufacturers’ Organisation has revealed. The primary reason attributed to the loss of jobs is demonetisation and the second one is the implementation of the Goods and Services Tax.

While the trading sector lost 43 percent jobs, the micro enterprises lost about 32 percent jobs. The small enterprises segment lost 35% and the medium industries segment saw a loss of 24%. The self-employed working class including tailors, cobblers, barbers, plumbers, and electricians bore the brunt, according to the survey. Year 2015-16 registered a growth in all areas of business due to high sentiment and expectations from the new leadership. But it went down next year due to demonetisation and then again, due to the implementation of GST.

The survey report said that the MSME sector from the plastic, matches, crackers, dyeing units, stitching units, stone units, tanneries, job work units and printing sectors, employing unorganised labour on a large scale, were the most affected. Also, the number of firms making profits declined substantially since 2014.