Rendering crores of people jobless, the unscrupulous policies of the Modi government successfully ensured the closure of 7.84 lakh industries in the country. That means on average 270 industries are being closed down every day due to the wrong policies of the BJP government in the country.
Even during the pandemic, the government could not come to the rescue. Though it claimed to have set up an incentive fund of Rs 16 lakh crore, it did not see the light. During the past eight years, 28 per cent in the service sector, 24 per cent in the manufacturing sector, 11 per cent in the trading sector, and 10 per cent in the construction sector were closed down in addition to 28 per cent in other sectors.
On the whole, 22,17,026 registered companies were there of which 7,84,841 companies were closed down and more are on verge of closure according to the corporate affairs wing of the Central government. Meanwhile, Modi’s government dealt a death blow to the Public Sector Units. During 2014-15 to 2021-22, the PSUs earned a profit of Rs 1,53,91,345 crore but the Central government went ahead with disinvestment to the tune of Rs 4,32,708 crore.
Mr Modi promised to create two crore jobs every year before coming to the power but he did otherwise by rendering crores jobless patronising only the corporate companies. Instead of reviving the loss-making units by extending incentives, he waived the loans of corporate companies thus leaving the PSUs and small industries in the doldrums.
By Gollapudi Srinivasa Rao