-The New Indian Express BENGALURU: The economic slowdown has not just affected big industries, but also medium and small scale industries, with several firms in Bengaluru either sacking their employees in large numbers or asking them to continue with up to 30 per cent cut in salaries. Several affected employees have approached the State Labour Department seeking directions to their companies to protect their jobs and their salaries. Labour Minister S Suresh...
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MSMEs created 1.5 crore jobs a year since 2014: Survey
-The Times of India NEW DELHI: A survey of 105,347 micro, small and medium enterprises firms (MSME), has shown a growth of 13.9% in net jobs created over the last four years at 3.3% per annum. The survey conducted by the Confederation of Indian Industry (CII) said the overall job creation works out to 13.5 to 14.9 million per annum given that the total workforce size according to the Labour Bureau is...
More »RBI data counters RBI claim: Credit to small firms shrinks -Sandeep Singh
-The Indian Express On October 30, at the meeting of the Financial Stability and Development Council chaired by Jaitley and attended by Urjit Patel among others, the central bank is learnt to have downplayed the issue of liquidity crunch. While the Reserve Bank of India said two weeks ago that there is no sign of a liquidity crunch, its own latest data shows that banks’ credit outstanding to the Micro, Small and...
More »Havoc unleashed by demonetisation evident to everyone now, says former PM Manmohan Singh
-ThePrint.in In a statement issued on the second anniversary of demonetisation, former PM Manmohan Singh urged against ‘unorthodox, short-term economic measures’. Today marks the second anniversary of the ill-fated and ill-thought demonetisation exercise that the Narendra Modi government undertook in 2016. The havoc that it unleashed on the Indian economy and society is now evident to everyone. Notebandi impacted every single person, regardless of age, gender, religion, occupation or creed. It is often...
More »What revival? Close to 50,000 MSMEs shut shop in Tamil Nadu in past year -Sangeetha Kandavel
-The Hindu Number of workers employed too falls by more than 5 lakh Chennai: Contrary to claims that the industrial climate in Tamil Nadu has improved, close to 50,000 micro, small and medium enterprises (MSMEs) have been wound up in the State in just one year on account of a host of factors. A government policy note tabled by the MSME Department in the Assembly on Thursday revealed that the total number of...
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