Jairam Ramesh Criticizes Modi Government's Impact on Unorganised Sector

Congress General Secretary Jairam Ramesh slammed PM Modi's policies, citing a report showing the unorganised sector contracted marginally since FY16. He blamed demonetisation, GST rollout, and COVID-19 lockdown for lost jobs and economic setbacks. He recommended steps in Congress's manifesto to revitalize the sector.

Congress General Secretary Jairam Ramesh, citing a new report from India Ratings, alleged that the unorganised sector, contributing over 44% to India's Gross Value Added (GVA), has faced a yearly contraction of 0.2% since FY16.

By FY23, unincorporated businesses' GVA was reportedly 1.6% below FY16 levels, amounting to a loss of Rs 1.3 lakh crore or 4.3% of GDP. Ramesh claimed 63 lakh informal enterprises shut down owing to three significant 'shocks,' leading to the loss of 1.6 crore jobs.

He criticizes the Modi administration, attributing manufacturing job reductions from 3.6 crore in FY16 to 3.06 crore in FY23, to policies like demonetisation, GST rollout, and a sudden COVID-19 lockdown. Ramesh called for measures from the Congress manifesto, including GST reforms and support for MSMEs, to mitigate the damage. (ANI)

(With inputs from agencies.)