In the past one year, more than 49329 work establishments have been closed, leading to the unemployment of around 5,19,075 people in Tamilnadu, as per a recent report. The Micro and small scale industries have always played a pivotal role in the economy of Tamilnadu.
These small scale industries were essential in the production and selling of goods like leather goods, readymade garments, plastic items electronic etc. Besides, the spare parts for bigger, large scale industries are also developed by small scale ones. These small scale industries export 40% goods. The GST was implemented last year's July, and due to this, 18% tax was imposed on small and micro industries.
Due to the heavy increase in prices,
the small industries are facing a tough time even to purchase raw materials.
The loss of jobs of more than 5 lakhs people had been reported by the TN
government. In 2007-08, there were more than 25000 small scale industries, with
employment offers for more than 2,45,000 people. With the increased investment
and the needs, the number of people employed increased to 18 lakhs. However, in
2017-18, with the closure of more than 50000 industries, lots of people have
lost their jobs. With the introduction of GST, the investments had increased,
following which, the jobs have drastically reduced.
Guys involved in Controversial WhatsApp chat to kill Defense Minister held According to sources two persons were arrested on Monday after a WhatsApp exchange on a plan to allegedly kill Defense Minister Nirmala Sitharaman while they were apparently drunk, police said as the minister paid a visit to Dharchula town in this district of Uttarakhand. Meanwhile the police were alerted to the message at 9:30 pm on Sunday. Pithoragarh SP Ramchandra Rajguru said the two
- Centre's decision to ban 328 FDC drugs brought 6,000 medicines on radar
- Migrants figures shown a negative growth of 11.6% from Kerala
- Uber's Food delivery launched Insurance Program in partnership with Tata AIG
- Investigation about Sewing Needle hidden in Strawberries
- Karnataka Govt reduced state taxes on petrol & diesel
- Is YS Jagan caught in a trap?
- Supreme Court nominee Brett Kavanaugh testifies hearing before Senate Judiciary Committee
- Major Fire Accident at Kanya Cinema Theater, Visakhapatnam
- T Rajendar coming to Thiruvarur?
- Auto driver attacked for questioning BJP leader on Petrol price hike!
- Yet again Petrol Price goes up...
- Case against Thirumurugan Gandhi dismissed!
- H Raja's words will help fascism!
- H Raja receives High court order!
- Babies born yesterday on PM Modi's birthday gifted gold rings at Chennai