IGNORANCE OF TRADERS WILL COST THE POLITICAL PARTIES
Nagpur News: Emphasizing its important role in forthcoming Lok Sabha election, the Confederation of All India Traders (CAIT), apex body of the trading community of the Country, has decided to identify 40 Parliament seats across the Country from where the traders will send trader friendly candidates to Lok Sabha. The decision was taken at the national core committee meeting of the CAIT held yesterday at Nagpur which was attended by senior trade leaders from different states of the Country. In a recent survey conducted by CAIT Research & Trade Development Society (CRTDS), research wing of CAIT, it has been observed that on about 120-125 Parliament seats, the traders can influence results of the polls- said Mr. B. C. Bhartia, National President of CAIT.
CAIT Secretary General Mr. Praveen Khandelwal informed that CAIT has formed a five member committee headed by its National President Mr. B. C. Bhartia, to draw the parameters of “Trader Friendly” modalities. The core committee meeting was chaired by CAIT Chairman Shri Mahendra Shah.
The gross ignorance of the traders and crucial issues concerning trading community by the Government and political spectrum of the Country has compelled us to join the political battle in our own way. It is irony that the trading community which is contributing 15% to National GDP and having an annual growth of about 15% and consisting of more than 5 crore business enterprises in unorganized sector is deeply ignored and has not been taken on its priority by any Government-said Mr. Bhartia.
Mr. Khandelwal said that unethical economic policies of the Government have resulted into major downfall of Indian economy. Instead of providing impetus to domestic trade and small industry, the Government is favouring MNCs and big corporate houses. The recent reports of tweaking conditions in FDI in Retail to the advantage of MNCs and big corporate houses are clearly a breach of assurance made by the Government in and outside the Parliament. The Core Committee has decided to launch an aggressive nationwide agitation, if Government makes any attempt to compromise with the stipulated conditions. The CAIT reiterated its demand to withdraw current notification of FDI in Retail.
The core committee also flayed the decision of the Union Cabinet to promulgate ordinance of Food Security Bill .Such a decision is in contravention of the policy of the Government of curtailing subsidies. The Government has failed to spell out how the world’s biggest government spending estimated about Rs.1,25,000 crores of rupees will be funded. There is already a huge current account deficit and fiscal deficit. Being an unplanned expenditure from where this huge money will be managed. Whether the Government will levy more taxes or will borrow the funds. In both the conditions, it will be a burden and fiscal deficit will increase to greater extent. The rupee is around its lowest against US dollar. It will further worsen the economic condition.
The Food security ordinance appeared to be pre-matured and an election gimmick. Under the circumstances where the Public Distribution System has totally collapsed and in the absence of any alternate infrastructure how Government will ensure that the prescribed quantity of food will reach the actual beneficiaries. CAIT feared that any move without adequate precaution may route these goods in to the market because of weak and corrupt administrative system.
