Maharashtra, June 25: There is no doubt that the recently implemented ban on plastics in Maharashtra will benefit the environment, but there is a negative side to it as well. According to a report on Indian Express, it will result in a revenue loss of as much as Rs 15,000 crore and will cost as many as three lakh people their jobs.

Neemit Punamiya, general secretary of Plastic Bags Manufacturers Association of India as quoted by PTI said, "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."

Reportedly, the job losses from the ban will impact Maharashtra’s GDP, and will also increase banks’ bad loans from the plastic sector. The ban was ordered on March 23, and three months window was given for people to dispose of plastic.

There are several plastic items which are banned in the state, and few are even allowed, if it falls within the guidelines. For those violating the rules, there is heavy fine that will be imposed. For first time offenders, it is Rs 5,000, for the second time it will be Rs 10,000, and for the third time, it is Rs 25,000 and three months in jail.

(The above story first appeared on LatestLY on Jun 25, 2018 10:26 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).