CAIT calls for better business opportunities

CAIT calls for better business opportunities

Agency News

New Delhi, June 17: The trading community have high expectations from Narendra Modi government and demanded that National Trade Policy for Retail soon be rolled out and urged to 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 payments transactions should be subsidised 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.

Khandelwal said that government should provide 50 pc subsidy to traders for purchase of computers and other allied equipment and balance could be financed by banks providing easy installments. This way the existing business format of country’s retail trade can be upgraded and modernised and compliance will be easy and smooth.

It is also suggested that effective steps for incentivisation of informal economy should be taken to convert the same to formal economy .

Khandelwal said that the commercial markets in the country lacks 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 business study tour abroad and later the good practices should be implemented in the country.

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.