UP traders demand implementation of ecommerce policy

Virendra Singh Rawat

Lucknow / Jan 25, 2021

Ahead of the tabling of the Union Budget 2021-22 in Parliament on February 1, the traders in Uttar Pradesh have demanded the implementation of an ecommerce policy to provide succour to the traditional retail space.

UP Adarsh Vyapar Mandal state president Sanjay Gupta claimed the lockdown had hit the traders hard and the Centre was well aware of the ground situation.

“The traders have high hopes from the union finance minister in the Budget,” he said adding the ecommerce had adversely impacted the country’s retail sector.

He demanded a special relief package for traders, who were still facing the economic challenges emanating from lockdown. The relief could manifest in the form of relaxation to traders in all forms of government levies for two years.

Besides, small and medium traders should get collateral free loans up to Rs 2 crore, while the Budget could also announce a special scheme in this regard, Gupta noted.

He further suggested the partnership and sole proprietorship firms should be clubbed under the 25 per cent income tax bracket instead of the current 30 per cent slab just like companies.

“The foreign direct investment (FDI) in the retail sector should be gradually brought down,” the traders’ leader added.