DYING MSMEs AND CONSEQUENT JOBS LOSS IS FRIGHTENING
CENTRE’S POLICIES AND DISMAL PERFORMANCE TO BE BLAMED
2021-06-28 09:54
-
Micro, Small and Medium Enterprises (MSMEs) in India have been dying for a long time even before the outbreak of COVID-19 resulting in large number of job losses. The lockdown announced on March 24, 2020 and the containment measures aggravated the situation further. Announcement of government support by Modi government failed to stem the rot. The second wave of COVID-19 beginning from February 2021 peaking up in May brought further deterioration. About 15 lakh jobs were lost in a single month of May chiefly due to shutting down of MSMEs or scaling down of their operation. We have yet again some further announcement of support by the government and the Reserve Bank of India (RBI), while last years’ announcements are yet hardly half-implemented, and the fate of the present announcements are buried in future.