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Express News Service
CHENNAI: A report from the chairman of the Prime Minister Economic Advisory Committee has shown that Tamil Nadu, a State with high incidence of youth unemployment, saw urban unemployment double from 2020 to 2021. According to the report, titled ‘Post Covid Employment Scenario in India’, by Bibek Debroy, the urban unemployment rate in TN, though similar to the national average of 7.27 per cent in February 2021, is more than double that of the previous year.
The rate at the level of ‘graduate and above’ was at 16.78 per cent in February 2021, and it continues to remain higher than other education-level bracket. This was coupled with a nearly three per cent fall in labour participation rate compared to the previous year.
Express News Service
CHENNAI/TIRUNELVELI/TENKASI: Several units at industrial estates in Chennai are struggling to survive owing to workforce shortage as the labourers had left for their native following the second wave.
Many units in Guindy have shut down, says Industrial Estate Manufacturers Association president KV Kanakabaram.
“A lot of people tested positive here and the so the labourers left for their hometowns. Even I had to close down my unit,” he said. All eyes are now on the packages that could be announced by MK Stalin after he assumes the Chief Minister office, to support the ailing small scale industries.
Express News Service
CHENNAI: Small and micro industries in Guindy and Ambattur are struggling to survive by keeping their units open during the second wave of the COVID-19 pandemic to meet stringent deadlines and ensure they deliver their orders on time.
With many of the employees testing positive and the workforce declining, deadlines are not being met and they risk being blacklisted by larger companies who have given them orders. Small industries are a vulnerable lot and with the rise in cases in the second wave of the pandemic and migrant workers fleeing, it is difficult to meet deadlines, says T V Hariharan, president of Chennai District Small Scale Industries Association.
MSMEs feel let down
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‘There has been no support from the government’
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‘There has been no support from the government’ A cross-section of the representatives of the Micro Small and Medium Enterprises (MSMEs) said the announcements made by Union Finance Minister Nirmala Sitharaman in the Union Budget will not solve any of the problems facing the sector for several years now.
Ms. Sitharaman said the government would reduce the customs duty uniformly to 7.5% on semis, flat, and long products of non-alloy, alloy, and stainless steel. To provide relief to metal recyclers, mostly MSMEs, she extended duty duty exemption on steel scrap till March 31, 2022.