Rs 1 cr investment can create only one job: Maha minister

Mumbai, Mar 13 () An average Rs 1 crore investmentcan create only one job in the industrial sector, MaharashtraIndustries Minister Subhash Desai told the Legislative Councilon Friday.

With this finding, Desai sought to debunk the generalunderstanding that higher investments can create more jobs inthe industrial sector.

During a discussion in the upper house, Desai said,"Internal data crunching in my department has revealed that inbig ticket projects, the average Rs 1 crore investment createsonly one job, while in small-scale industries, Rs 1 lakh needsto be invested to create one job."

The amount of investment shrinks further to Rs 25,000in micro scale industries for creation of one job, Desaiadded.

"We have also noticed that 40 per cent of our totalexports comes from small and medium scale industries. If weassist and promote these industries, we can boost our exportsand create more jobs," the minister said. NDARU ARU