Post-note ban 44,000 jobs were lost in Maharashtra in 2016-17: Survey

MUMBAI: About 44,000 jobs were lost in 2016-17, the fiscal year in which the Center announced the decision, according to the state's economic statement presented to the legislative council on Thursday.

The survey, presented at home on the eve of the budget presentation, also shows that the number is decreasing in the state consecutively in the last three financial years.

He said in fiscal year 2016-17, when the prime minister announced the demonetization of high-value bills. Narendra Modi (on November 8, 2016), the employment indicator reported a correction of 44,000 jobs.

The indicator in the 2019-20 Economic Survey stated that the industries in the state in fiscal year 2015-16 had a total number of 19.70 lakh employees.

The number was reduced by about 44,000 in 2016-17, when the employment figure was 19.26 lakh.

The figure increased again in 2017-18 when the employment indicator increased to 20.10 lakh, according to the survey.

In 2015-16, there were 28,210 industries in the state that were reduced to 27,010 in 2016-17 and reduced to 26,393 by the end of 2017-18.

The survey, however, stated that the figures for 2017-18 are provisional.

Other indicators, such as profit and net value added, experienced a slight decline in 2016-17, but rebounded in 2017-18, he said.

The survey said that the working capital of industries in the state was Rs 2,32,334 million in 2015-16, which was reduced to Rs 2,02,557 million in the following fiscal year and then to 1,17,152 million of rupees in 2017-18.

Other indicators showed a mixed trend in these three financial years, the survey revealed.

In fiscal year 2015-16, the gross value added of industries was Rs 2,48,476 million, which slipped to Rs 2,42,152 million in the following fiscal year. However, the indicator jumped in the next fiscal year (2017-18) to Rs 2.64,903 rupees, he said.