Job growth seen in MSME sector after demonetization, says govt data
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.
New Delhi: 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.
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 demonetization 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.