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44,000 jobs were lost in Maharashtra in 2016-17 post demonetisation: Report

Prashasti Awasthi Mumbai | Updated on March 06, 2020 Published on March 06, 2020

Representational photo   -  istock/track5

Around 44,000 jobs were lost in Maharashtra in 2016-17 post-demonetisation, according to data in the Economic Survey of the state tabled in the legislative council on March 5, media reports said.

The survey also revealed that the state of industries was precarious and had been shrinking, especially over the last three financial years.

The Economic Survey 2019-20 said that in fiscal 2015-16, industries in the state had 19.70 lakh employees. The number shrank by some 44,000 to 19.26 lakh in 2016-17, and increased again to 20.10 lakh in 2017-18, the report said.

Futher, 26.6 per cent government posts in Group A-D lay vacant according to the Economic Survey 2018-19 tabled in the state Legislature, according to media reports.

Shrinking industrial sector

The survey revealed that in 2015-16 Maharashtra had 28,210 industries, which reduced to 27,010 in 2016-17, and further to 26,393 by the end of 2017-18.

The survey, however, said the figures for 2017-18 were provisional and may change.

Other indicators related to industries displayed a mixed trend. The profit and net value added dropped in 2016-17, but picked up again in 2017-18. Working capital witnessed a sharp fall, falling from ₹2,32,334 crore in 2015-16 to ₹2,02,557 crore in 2016-17 and further to ₹1,17,152 crore in 2017-18.

The gross value added by industries, which was ₹2,48,476 crore in FY 2015-16, dropped to ₹2,42,152 crore in the following fiscal, but spiked to ₹2,64,903 crore in 2017-18, media reports added.

Published on March 06, 2020

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