Even as the Maharashtra government dreams of making the State a first $1-trillion economy in the country, many of its three million MSMEs — which are the backbone of the State’s economy — are bearing the brunt of the slowdown.
Apart from being an automobile hub, Maharashtra is also a leader in agro- and food processing industries. However, even as the slump has paralysed MSMEs, the State government says that the slowdown is a worldwide scenario and the government has nothing to do with it.
BJP leaders are hopeful that the slowdown will not affect their winning prospects. With the automobile sector witnessing a steep slump in sales, MSMEs that manufacture components or do job work for the sector have reduced their working hours, stopped recruitment and gone in for job cuts.
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