Congress Leader Rahul Gandhi criticized the BJP-led Indian Government that it has made doing business in the country difficult after a survey assigned by the government said that more than 50% of MSMEs suffered financially in 2021.
Rahul on Monday shared an article by Financial Express which highlighted a report by SIDBI that 67% MSMEs were temporarily shut, profits dipped for 66% MSMEs in FY21. Reacting to the total details highlighted in that article, he tweeted “The unease of doing business. The pain of jobless youth.The compulsive lies of Modi Govt.”
The Survey was assigned to SIDBI by the MSME Ministry in late 2021 to know the state of the sector in India. The study was made across 20 States and 2 union territories, and the report was submitted to the Government on January 27, 2022.
Referring to this survey, Indian MSME Minister Narayan Rane conveyed that over 50 percent of the respondent MSMEs witnessed a decline of more than 25 percent in their revenues during FY21. Moreover, around 66 percent units had reported a decline in profitability on account of stable fixed costs and a decline in revenue. The Minister shared this survey after questions were raised at the Lok Sabha.
Also sad is the fact that the Minister has told the Parliament last year that the Government does not have any data on the number of MSME companies that have downed their shutters during this pandemic, and it also lacks data about the total number of job losses that took place during the pandemic. He said that since MSMEs are in both formal and informal mode of operations, the exact data could not be collected.