Congress Slams Modi Government for MSME Crisis

The Congress has accused the government of causing economic harm to India's MSMEs due to policies like demonetisation, GST rollout, and unplanned COVID-19 lockdown. Congress leader Jairam Ramesh cited an India Ratings report showing significant job losses and economic decline in the unorganised sector. The party proposed measures to revive the sector.

The Congress on Wednesday accused the government of systematically harming India's MSMEs. The party claimed that 140 crore Indians are paying for Prime Minister Narendra Modi's cronyism, arbitrary policy-making, and refusal to engage constructively on issues.

Congress general secretary Jairam Ramesh referred to a new report by India Ratings, highlighting three major shocks: demonetisation, the botched GST rollout, and the nationwide COVID-19 lockdown. These events, according to Ramesh, have been catastrophic for the economy.

The report showed that 63 lakh informal enterprises have shut down, leading to a loss of 1.6 crore jobs. The Congress has proposed measures to revive the informal sector, including a revamped GST and relief for MSMEs.