CAIT expresses satisfaction over social welfare package
   Date :27-Mar-2020

CAIT_1  H x W:
 
 
Business Bureau :
 
“It is a matter of satisfaction that the the Government is working in a phased and priority based manner which is the right approach at this hour of crisis,” CAIT said 
 
The Confederation of All India Traders (CAIT) has appreciated the social welfare package announced by Union Finance Minister Nirmala Seetharaman on Thursday to meet the immediate demands of poor and down trodden sections of the country and workers of organised sector. “Such stimulus package will ensure dignified life of poor section during this troubled period. The social welfare package was much require 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 the Government is working in a phased and priority based manner which is the right approach at this hour of crisis,” CAIT said.
 
CAIT National President B C Bhartia and Secretary General Praveen Khandelwal while welcoming the announcements hoped that similar announcements will also be made soon for self organised sector which is wrongly called as unorganised sector including traders, transporters, small industries and self employed people who constitute a vital part of national economy. Both Bhartia and 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 Rs 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 the direct benefit package will infact 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. CAIT has given valuable suggestions to the Government like deferment of GST payments, immediate refunds of Income-Tax and GST to traders, bank EMI’s, deferment of bank loans, reduction in interest costs, doling out Corona Cash Loans, insurance to traders etc.