The pandemic proved to be devastating for the informal sector. Its representatives asked FM Nirmala Sitharaman to extend support in the upcoming Budget. Take a peek into the condition of this sector
In 2016, demonetization dealt a severe blow to the struggling Micro, Small and Medium Enterprises (MSMEs) sector, which supports a big chunk of the population. And the acknowledgment came two years later, from the country’s central bank after a study. In 2018, the Reserve Bank of India (RBI) said that the (MSMEs) have been adversely hit by the Goods and Services Tax (GST) roll-out and demonetization.
And just over two years later, the pandemic dealt another blow to it. Wave after wave, its share shrunk, significantly impacting the…read more