63,248 people lost jobs in MSME sector so far post Covid - In Pictures

63,248 people lost jobs in MSME sector so far post Covid | In Pictures

63,248 people working in the MSME sector lost jobs between July 1, 2020 and July 20, 2022. 19,862 jobs were lost in FY21, 42,662 in FY22, and 724 in the current FY so far, as per data shared by MoS MSME Bhanu Pratap Singh Verma in Rajya Sabha on July 26, 2022. (Image: pexels)

The job losses were respectively reported across 2,870 Udyam-registered MSMEs that were shut between July 1, 2020, and March 31, 2021, followed by 6,222 MSMEs shutting in FY22, and 175 Udyam units that got closed between April 1 and July 20 this financial year. (Image: pexels)

Overall, 10,067 MSMEs were shut from 2016 to 2022. 400 MSMEs (4 per cent of total closures) were shut during the 2016-2019 period as per the Udyog Aadhaar Memorandum (UAM) data while 96 per cent units — 9,667 were shut between 2019 and 2022, according to the UAM and Udyam portal data. (Image: pexels)

“Closure of MSMEs is certainly a concern for the government for which necessary steps and studies have been undertaken,” Ishita Ganguli Tripathy, Additional Development Commissioner, Ministry of MSME, told FEASPIRE. (Image: pexels)

As per a report by SBI this January, ECLGS saved the livelihoods of 6 crore families of workers employed in MSMEs as nearly 13.5 lakh MSME loan accounts were saved with credit support. (Image: pexels)

According to a SIDBI survey of a random sample pool of 1,029 MSMEs undertaken late last year across 20 States and two union territories and submitted on January 27, 2022, 67 per cent MSMEs reported temporary closure for up to a three-month period during Covid in the financial year 2020-21. (Image: unsplash.com)