Government of India interested only in increasing its revenues, say MSMEs; Demonetization and GST double blows to the sector

Government of India interested only in increasing its revenues, say MSMEs; Demonetization and GST double blows to the sector The findings of a latest survey amongst Micro, Small and Medium Enterprises (MSMEs) has confirmed the hardships undergone by this sector following demonetization and the implementation of the Goods and Services Tax by the government. The survey conducted by the All India Manufacturers' Association (AIMA) which represents the interests of MSMEs, indicates a gloomy picture for the sector. In the October to December quarter, the MSME sector saw 35% job loss as compared to 20% increase in job creation the previous quarter. The job loss was attributed to demonetization which was announced in November, 2016. For more on this story and to get your company featured, subscribe to our brand new print edition - TradeBriefs SME. Sample Copy Here Subscribe Now!