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Regular-article-logo Monday, 06 May 2024

Small traders seek survival package

Tax concessions to tide over lockdown and recession

Praduman Choubey Dhanbad Published 15.04.20, 08:35 PM
JITA demands include also extension of the NPA (non-performing assets) limit from the existing three months to one year and funds on minimum interest available for micro, small and medium enterprises under various cess slabs to increase liquidity in the market.

JITA demands include also extension of the NPA (non-performing assets) limit from the existing three months to one year and funds on minimum interest available for micro, small and medium enterprises under various cess slabs to increase liquidity in the market. (Representational image/ Telegraph file picture)

Struggling to survive during the extended lockdown, small traders, including retail and wholesale shopkeepers, and owners of small- and medium-scale industries, want concessions from the government to survive.

Industrialists and traders of the coal town and other adjoining districts under the banner of Jharkhand Industries and Trade Association (JITA) want interest waiver on working capital/term loan, rent exemption for their establishment/godown/industry/shop, waiver of interest on housing loans during the lockdown, 3 per cent interest on term loans for a year after lockdown, and extension of overdraft facility by banks to industries and traders for staff wages.

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JITA demands include also extension of the NPA (non-performing assets) limit from the existing three months to one year and funds on minimum interest available for micro, small and medium enterprises under various cess slabs to increase liquidity in the market.

Talking to The Telegraph on Wednesday, the general secretary of JITA, Rajiv Sharma said: “We had a long discussion on these issues last evening (Tuesday) during a webinar (seminar on web) of JITA. We spoke about the difficulties faced by the small traders and small industry owners, including having to pay staff wages and fixed charges for electricity connections, godown and establishment rent, various licence fees.”

“We raised the issue of exemption of fixed charges for electricity during lockdown before the state government last week too. We will hold webinars to asses the situation arising out of the lockdown, give our feedback to the government and raise demands to improve the situation,” Sharma said.

“We will prepare a detailed report based on webinars and send letters to the Centre and the state government, the Reserve Bank of India, and the ministry of finance,” Sharma added.

Former president of the Federation of Dhanbad Zilla Chamber of Commerce and Industry, Rajesh Kumar Gupta, said: “It is very difficult for small traders such as shopkeepers to pay staff wages during lockdown when they are not earning. The government must offer some tax concessions to us so that we can pay salaries.”

President of Bank Mor Chamber of Commerce Prabhat Surolia added that small traders were facing the brunt of recession since over an year. “Covid-19 and the lockdown extension has made the blow harder. Unless the government comes to their rescue, they will be wiped out.”

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