Traders disappointed with Budget

Source: The Hitavada      Date: 02 Feb 2019 13:17:49


Business Reporter,


THE Union Budget though seems to be overall good has utterly neglected the trading community and has highly disappointed the traders of the Country, said the Confederation of All India Traders (CAIT) on Friday.

In their reaction to the interim budget, CAIT National President B C Bhartia and Secretary General Praveen Khandelwal said that every other section of the economy has been given relief in the Budget except trading community, which is the backbone of the economy. After renaming DIPP as Department for Promotion of Industry and Internal Trade and giving no extension to FDI policy in e-Commerce, the traders were hopeful that they will get due attention in the Budget, but were totally left out from the budget, the traders feel aggrieved. However, CAIT has said that it will send a fresh memorandum to Prime Minister and Finance Minister urging them to take care of the trading community.

Meanwhile, Khandelwal also praised Finance Minister Piyush Goyal over his remarks in Lok Sabha- ‘Thank you tax payers’. Khandelwal said, “ I have been paying tax since decades, but never heard a Finance Minister saying thank you to tax payers. Take a bow Piyush Goyal. You just won the hearts of all tax payers. Finally someone accepted their importance for the nation. Without tax, nothing runs.”

Budget not encouraging for agrarian community President of Shriram Thok Sabji Vikreta Samiti, Dumartarai, T Srinivas Reddy said that despite bringing relief to the general public, the interim Budget has been disappointing for the agrarian community.

The announcement of Rs 6,000 per annum package for farmers possessing less than 2 hectares land, entitles to just Rs 500 per month, which is in no way justifiable. The prices of farming inputs from urea to seeds have skyrocketed and gone out of reach of small farmers. Though tomatoes are sold at around Rs 1 or 2 per kg in rural market, its seeds are surprisingly priced at Rs 35,000 for each kilogram. Similarly, cabbage is available at Rs 4 per kg, but one kg seed is offered at Rs 18,000 per kilo.

“The investment made by farming community obtaining loans has no alternate option to get back their principal amount, and profit seems to be a distant dream”, Reddy maintained.