MSME yet to recover from impact of demonetisation, GST: Congress

Congress on Saturday slammed the BJP-led central authorities saying the MSME sector has not yet recovered from the impact of demonetisation and GST and that no ample steps have been taken to revive the sector which may have supplied employment to the youth is in its worst part.

Taking a swipe at Prime Minister Narendra Modi, Congress General secretary Jairam Ramesh tweeted, “All the eye of the Prime Minister is just on offering advantages to his chosen capitalist buddies. MSMEs, that are thought of to be the spine of the nation’s financial system, have been left to fend for themselves. In the Lok Sabha, the federal government itself admitted that about 20,000 micro, small and medium enterprises have been closed within the final three years. This estimate can also be far lower than the fact.”

“The MSME sector has not yet recovered from the impact of demonetisation and GST. Adequate steps are additionally not being taken by the federal government. This is the explanation why the sector which may have performed an essential function in offering employment to the youth, may have strengthened the nation’s financial system, is in its worst part within the so-called Amrit Kaal,” he stated attaching a information report.

The Congress has been important of the federal government’s transfer of demonetisation, when on November 8 in 2016 the Rs 500 and Rs 1,000 have been spiked. It has additionally criticised the federal government for the defective implementation of the GST.

(With inputs from IANS)