NOTEBAN AND GST, MAIN REASONS FOR UNEMPLOYMENT AND REVENUE LOSS OF SMALL OR MEDIUM INDUSTRIES : AIMO SURVEY

NOTEBAN AND GST, MAIN REASONS FOR UNEMPLOYMENT AND REVENUE LOSS OF SMALL OR MEDIUM INDUSTRIES : AIMO SURVEY

All India Manufacturers Organization has given this information in its report after 34,700 merchandisers and MSME sampling across the country.

Traders and Micro, Small and Medium Enterprises (MSME) has said continuous reduction in jobs and declining profits in the country since 2014. Noteban and GST have been told for its main reasons. The All India Manufacturers Organization (AIMO) has informed about this in its new survey report.

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According to the study, the Main reason findings:

1. There has been a 35% down in employment and 45% revenue loss in the small or medium and large scale industries that are related to infrastructure projects, mostly road construction. There is further chance that the number of jobs and revenue may reduce to 40% by March.

2. A loss in jobs of 30% and 40% down in revenue was reported from the medium and large scale industries, including the foreign firms, which are engaged in export-oriented activities. This fall in job and revenue is expected to rise to 35% and 45% respectively by March.


3. While the least job loss of 5% was reported in the manufacturing sector in the first 34 days, on the other hand, revenue sector reduced 20%. However, this Fall is most likely to be 15% for both by March.

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