Demonetisation impact: 35% jobs losses in first 34 days, SMEs worst hit

The number of jobs and revenue are expected to dip by 40 per cent by March

Cash-ban a boon or bane? - To many it may seem like a bold move by a confident Prime Minister, but to others, it spelt nothing but doom.

A study by the All India Manufacturers’ Organisation (AIMO) reveals that micro-small scale industries suffered 35 per cent jobs losses and a 50 per cent dip in revenue due to Prime Minister Narendra Modi's demonetisation drive. According to a report published in The Indian Express, major industrial activities have been halted and Small and Medium-sized Enterprises (SMEs) sector has been worse-hit.