3 weeks ago

Over 36,000 firms shut operations in Maharashtra, government tells Parliament

Over 36,000 firms shut operations in Maharashtra, government tells Parliament
Over 36,000 firms shut operations in Maharashtra in last five years, govt tells Parliament · telegraphindia.com

A place called Maharashtra, which is a big part of India, has seen a lot of companies close down.

The government shared news in Parliament that more than 36,000 companies shut in the last five years.

Most of the closed companies were in business services, which help other companies with things like advice or paperwork.

Many were also factories that make goods.

The biggest number of closures happened in the cities of Mumbai, Pune, and Thane.

Some leaders are unhappy and say the government's rules and corruption made it hard for businesses.

They also worry about the workers who lost their jobs.

The government says it does not have information on how many workers were affected.

When a company goes through a special process called insolvency, worker payments are decided according to the rules.

Leaders are continuing to ask for better data and better support for affected workers.

Key facts

Total companies closed
36,211
Time period
Last five financial years
Top sector
Business services (14,613, about 40%)
Manufacturing closures
6,582
Top district
Mumbai City (12,009)
Other top districts
Pune (6,433), Thane (4,704)
Top three districts' share
23,146 closures, nearly 64% of the state total
Data source
Union Ministry of Corporate Affairs in the Lok Sabha

Quotes

Rajabhau Waje

MP from Shiv Sena (UBT) who answered in Lok Sabha

“Some 14,000 companies in business services and some 6,500 companies from manufacturing sectors have closed down in the last five fiscal years," Waje said”
telegraphindia.com
“Now, the Union government’s own admission shows that what Bhagwat is preaching is not being implemented by BJP leaders at all," Sawant said”
telegraphindia.com

Sources

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