65,500 jobs lost between Aug-Oct in India

FE 16/12/08

Over 65,500 people lost their jobs between August and October this year due to global economic recession, Labour Minister Oscar Fernandes said in New Delhi on Monday.

A sample study conducted for the period August-October 2008 by Department of Commerce for 121 export related companies also revealed loss in export orders to the tune of Rs 1792 crore, he said during Question Hour in Lok Sabha.

The Department of Commerce study covered primarily employment-oriented sectors like textiles, inlcuding garments, leather, engineering, gems and jewellery, handicrafts, food and food processing, minerals and marine products, he said.

Fernandes said government has initiated several measures to instil confidence in the economy, spur growth and overcome crisis.

Some of the important steps relate to RBI measures to enhance liquidity in the market and an economic package by the government, mainly comprising additional spending, interest subvention and excise duty cuts, Fernandes said.

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