Economy

Traders’ body unhappy over lack of stimulus measures

Our Bureau New Delhi | Updated on May 18, 2020

Restaurants, too, express concern over lack of measures

The Confederation of All India Traders (CAIT) on Monday expressed dismay for not including specific measures for the 7-crore strong community of small traders in the economic package announced recently. In a letter to Finance Minister Nirmala Sitharaman, CAIT Secretary-General Praveen Khandelwal, sought measures to help traders tide over the impact of the lockdown.

About 45 per cent of traders are catering to the needs of rural India with very limited means and resources. After lifting of lockdown, the traders will have to meet various financial obligations like payment of salary to employees, payment of GST, income tax and other government payment, EMIs, bank interest on loans taken by the traders and various other incidental expenses,” Khandelwal said.In the absence of any handholding, about 20 per cent marginal traders may have no other alternative but to close down their business establishments, he said..

Published on May 18, 2020

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