Economic Survey moots shift from dwarfs to 'infant' firms for growth, jobs

Deregulating labour law restrictions can create significantly more jobs, as seen by the recent changes in Rajasthan when compared to the rest of the states, the survey noted

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Budget 2019: The government on Thursday said "perverse incentives" targeting "dwarf" companies must be replaced with prioritising start-ups and "infant" firms in high employment-elastic sectors to foster economic growth and create jobs.

According to the Economic Survey 2018-19, tabled by Finance Minister Nirmala Sitharaman in Parliament, policies for growth of India's MSMEs should be re-oriented based on a firm's size and use of Aadhaar to avoid misuse of age-based incentives having a sunset clause of less than 10 years.

While dwarfs, firms with less than 100 workers despite being more than 10 years old, account for more than half of all organised firms in manufacturing by number, their contribution to employment is only 14 per cent and to...read more

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