Provide relief package to small businesses, CAIT urges PM

It demanded that the long awaited e-commerce policy should be implemented immediately, and a regulatory authority for e-commerce should be formed to regulate the digital commerce businesses pan India.

The Confederation of All India Traders (CAIT), in a memorandum to Prime Minister Narendra Modi on Wednesday, demanded a relief package for small businesses. It said the move will provide better business opportunities for small traders and enable businesses in the country. 
 
The CAIT urged the Prime Minister to either declare package before Budget or include their demands in the forthcoming Budget.
 
In memorandum, CAIT National President B C Bhartia & Secretary General Praveen Khandelwal demanded that traders registered under GST should be given an accidental insurance of Rs 10 lakh, as it is currently in practice in Uttar Pradesh.
 
They said a subsidy should be given to traders to purchase computers and allied goods. This will help them upgrade & modernise the existing businesses and bring out quality products in a cost effective manner.
 
As per CAIT, only about 35 per cent of small businesses out of 7 crore have been able to embrace technology in their processes. 
 
The traders' body has also urged for a National Trade Policy for Retail Trade and a separate Ministry for Internal Trade. 
 
It demanded that the long awaited e-commerce policy should be implemented immediately, and a regulatory authority for e-commerce should be formed to regulate the digital commerce businesses pan India. 
 
The traders were of the view that the government should provide assistance to traders in launching a transparent and trust worthy e-commerce portal, which will help promote online commerce among the trading community. 
 
A Retail Regulatory Authority should also be formed to regulate the retail trade across the country, the they said.
 
The CAIT has urged the Prime Minister to conduct a nationwide survey of retail trade to gather financial and social status of the retail sector.
 
Both Bhartia & Khandelwal has also urged that the traders be provided loan by banks at a concessional rate of interest. So far only 5 per cent of the small businesses are able to avail loans from banks and financial institutions, and the rest 95 per cent are dependent upon private moneylenders, relatives and other private sources for their financial needs, they said. 
 
They demanded direct lending by banks under Mudra Scheme be disbanded and non-banking finance companies (NBFCs), micro-finance institutions and private moneylenders duly registered should be roped in to lend money to beneficiaries. They opined that a separate authority, in lines with Sebi, should be created for regulating Mudra scheme.
 
Bhartia and Khandelwal also demanded to set up a Trade Promotion Council, which should act as bridge between traders and the government.
 
Both Bhartia and Khandelwal urged the Prime Minister to launch a Pension scheme for the traders registered under GST. 
 
The GST should be made more simplified, mandi tax pan India and toll tax in Jammu should be abolished as a part of One Nation One Tax declaration, they said. 

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