: Traders upset with govt for ignoring them in economic package: CAIT #FinanceIndia #StockMarketNEWS Traders upset with govt for ignoring them in economic package: CAIT New Delhi, May 18 (KNN) The Confederation

@StockMarketNEWS Tue 19 May, 2020

Posted in: #FinanceIndia #StockMarketNEWS

Traders upset with govt for ignoring them in economic package: CAIT #FinanceIndia #StockMarketNEWS
Traders upset with govt for ignoring them in economic package: CAIT New Delhi, May 18 (KNN) The Confederation of All India Traders (CAIT) has expressed deep disappointment and resentment against the government on behalf of the 7 crore traders of India stating they have been completely ignored while announcing the economic package.

The entire trading community today is extremely upset with the Government for this step- motherly treatment. The traders of India have been called as the backbone of the economy on several occasions by the Prime Minister and even in these extremely troubled circumstances the Kirana retailers have displayed their true character as corona warriors and ensured the supply of essential commodities, said CAIT National President B C Bhartia & Secretary General Praveen Khandelwal in a statement on Sunday.

Every trader is anguished and registers their protest today because they have been completely side-lined by the government while preparing the much-awaited economic package, he added.

The duo also said that CAIT will seek immediate intervention of Prime Minister Modi.

The traders will be landing into great financial crisis on lifting of lockdown as they will have to pay salary, interest, bank loans, taxes and various other financial obligations, it said.

It is expected that nearly 20% traders will have to wind up their business and another 10% traders dependent on these 20% traders will have to close their business. Under such a grim situation the government has refused to handhold the traders. Its a pity that such an important sector of the economy has been greatly overlooked, CAIT said.

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