MSMEs may suffer job losses of upto 60% before March due to note ban: study

The study assigned by industry organisation AIMO says MSMEs were the worst hit due to demonetisation

The micro-small scale industries (MSME) in service providing activity in the country is expected to suffer a loss of 60 per cent in employment and 55 per cent in revenue before March 2017, as an impact of demonetisation announced by Prime Minister Narendra Modi in November 8, 2016.

According to All India Manufacturers’ Organisation (AIMO), preliminary findings of an expert committee formed by the organisation shows that this segment was the worst-hit due to demonetisation. AIMO said that the segment has suffered 35 per cent jobs losses and a 50 per cent dip in revenue in the first 34 days since