Modi govt benefitting crony capitalist friends, harming MSMEs: Congress

The Congress on Friday accused the Modi government of benefitting its crony capitalist friends and harming the medium and small businesses which provide employment opportunities to 12 crore people.

Congress president Mallikarjun Kharge termed it as “cease of doing small business under Modi government”. “In the past 5 years 72 per cent MSMEs which provide 12 crore jobs saw zero growth. In 2.5 years PM’s param mitr who provides only 30,000 jobs, saw wealth grow by 13 times,” he said on Twitter. “Modi Magic = Benefiting Cronies + Bleeding MSMEs,” the Congress chief added.

Also read: COVID hit: 40% MSMEs denied loans, 50% had no coping plan, says study

Congress general secretary Jairam Ramesh also accused the government of harming the MSME sector in order to benefit its crony capitalist friends. “In order to benefit his crony capitalist friends more, the Modi government has harmed the micro, small and medium enterprises (MSME) which provide employment to 12 crore people of the country,” he charged.

“The result is in front of you. The problem of unemployment has increased and crores of families have suffered financial losses,” Ramesh said in a tweet in Hindi. He also cited a report that claimed 72 percent MSMEs have suffered under this government.

(With inputs from agencies)