MSME Sector Generated 4-5 Lakh Jobs Annually After Demonetisation, Reveals Nitin Gadkari’s Reply In Lok Sabha
MSME Sector Generated 4-5 Lakh Jobs Annually After Demonetisation, Reveals Nitin Gadkari’s Reply In Lok SabhaUnion Minister Nitin Gadkari (Photo by Sushil Kumar/Hindustan Times via Getty Images)

While the Opposition has been attacking the Modi government for destroying numerous jobs in the micro, small and medium enterprises (MSME) sector post demonetization, figures show that 4-5 lakh jobs have been added annually for the past three years.

This information was given by Nitin Gadkari, Union Minister for Micro, Small and Medium Enterprises in written reply to a question in Lok Sabha on Thursday (21 November).

As per the Minister's response, under the Prime Minister's Employment Generation Programme (PMEGP), the estimated employment generated (number of persons) in micro enterprises during the years 2016-17, 2017-18 and 2018-19 has been 4.08 lakh, 3.87 lakh and 5.87 lakh, respectively.

The data shows that around 4-5 lakh jobs were created every year, even during the demonetisation year and in the two years following that.

While there have been attacks on the government and there is a general impression that MSME sector has gone through pain, the data is to the effect that jobs have not been lost and there has only been some addition to jobs, although substantial.

On the same lines, the share of MSME in India's GDP has also remained more or less the same in the last three years. As reported by Central Statistics Office (CSO), Ministry of Statistics & Programme Implementation (MOSPI), the share of MSME in All India GDP during 2015-16 and 2016-17 and 2017-18 has been 29.5 per cent and 29.3 per cent and 29.7 per cent, respectively.

Even the share in exports has remained constant. Gadkari's reply in Parliament said that as reported by Directorate General of Commercial Intelligence and Statistics (DGCIS), the share of MSME related products in total exports during 2016-17, 2017-18, 2018-19 and 2019-20 (Apr-Aug,2019) has been 49.69 per cent, 48.56 per cent, 48.10 per cent and 49.66 per cent, respectively.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber