Plastic ban: Maharashtra stares at loss of Rs 15,000 crore & 3 lakh jobs

June 24, 2018 17:25

The state-wide plastic ban,including carry-bags and thermocol by the Devendra Fadanvis government, will result in loss of up to Rs 15,000 crore and nearly 3 lakh job, says the plastic manufacturing industry.

"The ban imposed by Maharashtra from Saturday has hit the industry very hard and the plastic industry is staring at a loss of Rs 15,000 crore, leaving nearly 3 lakh people jobless overnight," said Plastic Bags Manufacturers Association of India general secretary Neemit Punamiya.

Nearly 2,500 members of the association have left with the no option but to shut shop following the ban, he added and termed the ban as "discriminatory".

Industry insiders have said the job losses from the ban will impact the state's GDP, and also increase banks' bad loans from the plastic sector.

While retailers across the megapolis have said heavy fines for violating the bank will make them financially unviable and force them to turn away many customers, consumers have complained of inconvenience, and wondered whether the ban makes any sense.

The civic authorities have imposed a fine of Rs 5,000 for the first-time offenders and Rs 10,000 for the second-time offenders. Those who violate the ban for the third time will face a fine of Rs 25,000, along with a three-month imprisonment.

-- PTI

« Back to LIVE

TOP STORIES

JD-S worker steps up, accuses Prajwal of rape, filming it

The crime investigation department booked Prajwal, grandson of former prime minister HD Deve Gowda, after a JD-S worker from Hassan lodged a complaint against him.

Prajwal Revanna booked for rape, says CM Siddaramaiah

He said he has directed police to identify, trace and secure the victims in view of the alleged kidnapping of a victim at Krishnaraja Nagar town in Mysuru district.

Kerala shocker: Woman delivers in bathroom, throws newborn on to street

The police said the woman has been taken into custody after being traced using the address on the Amazon delivery packet in which the child was wrapped and thrown.

Ready For Some Dark Love On OTT?

Holidays turn into horror, Bhansali brand of razzmatazz and tons more on OTT this week.

Forex reserves drop $2.41 bn to $637.92 bn

India's forex reserves dropped $2.412 billion to $637.922 billion as on April 26, in the third consecutive weekly decline in the reserves, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the overall...