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New Delhi
August 21, 2019
Observer Dawn
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Traders have high hopes from Modi govt: CAIT

The trading community has high expectations from the Narendra Modi government and demanded that National Trade Policy for Retail soon be rolled out and immediately constitute a National Traders Welfare Board with adequate powers and ensure better business opportunities in the country.

CAIT Secretary General Praveen Khandelwal here on Sunday demanded that procedures of filing returns under GST should be more simplified so that an ordinary trader can comply the same.

He further said that to encourage adoption and acceptance of digital payments by traders & consumers, the bank charges levied on card payment transactions should be subsidized by the government directly to banks so that there is no financial load on either traders or consumers. Incentives should be given for greater usage of digital payments.

“The traders are not getting easy finance from banks because of the cumbersome procedure. It is suggested that Mudra scheme should be made more effective and as per original plan and declaration by the PM, the NBFCs and MFIs should be roped in to disburse loans to traders and banks should be directed to lend adequate finance to NBFCs and MFIs to augment their lending capacity,” he added in a statement.

Mr. Khandelwal said that the government should provide 50 pc subsidy to traders for purchase of computers and other allied equipment’s and balance could be financed by banks providing easy installments. This way the existing business format of the country’s retail trade can be upgraded and modernized and compliance will be easy and smooth. It is also suggested that effective steps for incentivization of informal economy should be taken to convert the same to the formal economy.

He also desired that in place of many licenses there should be one license for conducting any business and the procedure of yearly renewal should be abolished.

Mr. Khandelwal said that the commercial markets in the country lack proper infrastructure and therefore a mechanism should be developed to provide required infrastructure in the markets.

The Government should encourage and assist trade associations for a business study tour abroad and later the good practices should be implemented in the country.

“E-commerce is a progressive market of future and therefore e-commerce policy should be rolled out immediately which should also be applicable on both MNCs and domestic e-commerce companies,” he added.

He demanded that the traders should be given the status of the tax collector and some sort of incentives should be given to traders for collection of taxes on behalf of the govt. Likewise, a pension should be given to traders after attaining the age of 60 years which may be linked with the taxes deposited by the traders.

Mr. Khandelwal also demanded accidental insurance to traders for Rs 10 lakh should be rolled out immediately as also issuance of Vyapari Credit Card on the pattern of Kisan Credit Card.

“It is regretted that so far traders were highly neglected in representation in different Boards & Committees of the Government. It is strongly demanded that following the principle of participatory governance the traders should be given representation in Government Boards & Committees as also different committees attached to different Ministries,” he said.

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