Chennai: Alleging that the Union government’s Rs 20 lakh crore stimulus package had failed to address concerns of traders, the Confederation of All India Traders (CAIT) has urged Finance Minister Nirmala Sitharaman to provide relief measures to the seven-crore strong trading community.
According to CAIT, with no income and zero support from the government, at least 20 per cent of these traders are staring at business closure and that would, in turn, jeopardise livelihoods and jobs of hundreds of employees.
“While announcing the economic package, the government has ignored the traders and the trading community is deeply agitated for their utter exclusion in the package at a time when it is direly needed,” said Praveen Khandelwal, national secretary general of CAIT.
He added: “These traders have stood firmly with the government and the people to ensure continuous supply of essential commodities so that every citizen had substantial supplies during the lockdown. About 45 per cent are catering to the needs in rural India with very limited resources. The axe of lockdown will fall on them in a most brutal manner. While most retailers are struggling to revive their business activities, about 20 per cent of marginal traders will have to close down without hand-holding.”
According to Kumar Rajagopalan, CEO of the Retailers’ Association of India, retailers need wage support, a moratorium for payment of principal and interests, and working capital in their hands to survive.
He stated, “While extension of loan guarantee, and TDS reduction for non-salaried will help in the long run, emergent issues in retail industry remain unaddressed.”