NEW DELHI: Peeved with the Centre's Rs 20 lakh crore stimulus package failing to address traders’ concerns, the Confederation of All India Traders (CAIT) has shot off a letter to the Finance Minister seeking relief measures to support the 7-crore strong trading community.
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, CAIT said on Monday.
"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," CAIT said in a letter.
"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," said Praveen Khandelwal, national secretary general of CAIT.
Echoing similar sentiments, Kumar Rajagopalan, CEO of the Retailers' Association of India, also pointed out that retailers need wage support, a moratorium for payment of principal and interests, and working capital in their hands to survive. "While extension of loan guarantee, and TDS reduction for non-salaried will help in the long run, emergent issues in retail industry remain unaddressed," he said.