UNION BUDGET WILL STRENGTHEN ECONOMY & INCREASE CASH FLOW IN MARKET.
Union Budget will increase cash flow in the Country & will strengthen economy. It is creditable that focus of Budget has been shifted from corporate to non corporate & farm sector but allowing 100% FDI in food processing will enable MNCs to control & dominate food sector and neither farmer will be benefited nor the food industry. The Confederation of All India Traders will submit its concerns to Finance Minister and urge him to reconsider this proposal as it also runs contrary to the promises of BJP for not allowing FDI in Retail.
CAIT National President Mr. B. C. Bhartia and Secretary General Mr. Praveen Khandelwal said that removal of 13 types of Cess, tax rebates to small taxpayers, incentives to small entrepreneurs and encouragement to declare tax evasion money will increase cash flow in market.Opening of 1500 multi skill training institutes will promote skill development in the Country.
They further said that increasing target of MUDRA to 1.80 lakh crore will pave way for financial inclusion of uunfunded enterprises but demanded that Mudra should be declared as an independent regulator and refinancing should be done through NBFCs, MFIs, Trust & Societies and Trade Association should be involved in carrying Mudra to actual beneficiary. Model Shop & Establishment Bill allowing 7 days opening of small shops is an attempt to compete with big retail. Banking Board Bureau will streamline banking in the Country. Development of 160 Airports, construction of 10 thousand km roads will improve connectivity and transportation and will benefit trade.
