Congress claims MSME sector yet to recover fully from femonetisation and GST impact

Congress General Secretary Jairam Ramesh took a dig at Prime Minister Narendra Modi, tweeting that the Prime Minister's focus seems to be solely on favoring his selected capitalist associates.

New Delhi: Congress on Saturday slammed the BJP-led central government saying the MSME sector has not yet recovered from the impact of demonetisation and GST and that no adequate steps were taken to revive the sector which could have provided employment to the youth is in its worst phase.

Taking a swipe at Prime Minister Narendra Modi, Congress General secretary Jairam Ramesh tweeted, “All the attention of the Prime Minister is only on providing benefits to his chosen capitalist friends. MSMEs, which are considered to be the backbone of the country’s economy, have been left to fend for themselves. In the Lok Sabha, the government itself admitted that about 20,000 micro, small and medium enterprises have been closed in the last three years. This estimate is also far less than the reality.”

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“The MSME sector has not yet recovered from the impact of demonetisation and GST. Adequate steps are also not being taken by the government. This is the reason why the sector which could have played an important role in providing employment to the youth, could have strengthened the country’s economy, is in its worst phase in the so-called Amrit Kaal,” he said attaching a news report.

The Congress has been critical of the government’s move of demonetisation, when on November 8 in 2016 the Rs 500 and Rs 1,000 were spiked. It has also criticised the government for the faulty implementation of the GST.