The Confederation of All India Traders (CAIT) has appreciated the social welfare package announced today by Finance Minister Smt. Nirmala Seetharaman to meet the immediate demands of poor and downtrodden section of the Country and workers of the organised sector. Such a stimulus package will ensure the dignified life of poor sections during this troubled period. The social welfare package much required at this point of time as the poor section was worried for its living in lockdown period when everything is closed in the Country. It is a matter of satisfaction that the Govt is working in a phased and priority-based manner which is the right approach at this hour of crisis.
CAIT National President Shri BC Bhartia and Secretary General Mr. Praveen Khandelwal while welcoming the announcements hoped that similar announcements will also be soon made for self-organised sector which is wrongly called as unorganized sector including traders, transporters, small industries and self-employed people who constitute a vital part of the national economy.
Both Mr. Bhartia & Mr. Khandelwal said that First the health of the people was ensured by announcing a nation wide lockdown, followed by deferment of all statutory and tax compliances and today now a huge package of 1.70 lakh crore to provide tremendous support to the poor and needy and the daily wagers who are most affected in this time. They also pointed out that this direct benefit package will in fact result in this money circulating into the retail markets because the people will use this extra disposable income to purchase more products. They expressed hope that next the Government will now look into the issues of the small traders and the middle class as they are also suffering tremendously in this situation.
The CAIT has already given valuable suggestions to the Govt like deferment of GST payments, immediate refunds of Income Tax & GST to traders, Bank EMI’s, deferment of Bank Loans, Reduction in interest costs, doling out Corona Cash Loans, Insurance to traders, an extension of current Financial year among other measures.