New Delhi: Due to the opening of only a few select shops in lockdown and the closure of everything else, the retail business has broken its back. According to the Confederation of All India Traders (CAIT), the largest organization of traders, the retail business has suffered a loss of 9 lakh crores in these 60 days of lockdown due to corona virus (covid-19). In the coming times, the crisis on retail business may deepen.
Despite the relaxation given to the markets in Lockdown 4.0, the country's domestic business is going through its worst phase in the first week. Only 5 percent of the business was done in open shops across the country and only 8 percent of the employees reached the shops. The biggest challenge before the retail business is their employees, 80 percent of whom have returned to their villages. 20 percent of the employees who are local do not want to return to work. The markets opened up there, but the customer is also missing from the market due to fear of increasing cases of corona.
According to CAIT national president BC Bharatiya, during the 60-day national lockdown, there was almost Rs 9 lakh crore in domestic trade. The Central and State Governments have lost GST revenue of 1.5 lakh crores. During the last one week, only the essential items including dairy products, grocery, FMCG products and consumables have been traded whereas electronics, electrical, mobiles, gift articles, watches, shoes, readymade apparels, fashion garments, readymade garments, furnishing fabric, cloth , Jewelery, paper, stationery, builder hardware, machinery, tools and many other trades which used to be traded in large quantities, the customers were completely missing in these trades.
Around 5 lakh traders from other states used to come to Delhi every day to buy goods from the wholesale markets of Delhi, but due to unavailability of transport, the wholesale markets of Delhi remained deserted in the last one week. In particular, drivers who move goods for intra-city, inter-city or inter-state transport of goods have also not returned to work.
The retail business of the country is run by about 7 crore traders, which provides employment to 40 crore people and has an annual turnover of about 50 lakh crores. Crores of traders in this sector are in a highly unsafe condition and the crisis has deepened due to the sheer neglect of the traders in terms of economic package by the central and state governments.
5 Android phones to compete with iPhone, will get 5G network support
Recently, four variants of the iPhone 12 have been launched and their price ranges from $ 699 to $ 1099. The price of the iPhone 12 in India ranges from 80 thousand to one lakh rupees. The iPhone 12
Bomb Threat: 20 schools in Delhi received bomb threats early in the morning, and a fire brigade and police team were on the spot
Schools and colleges in Delhi are receiving bomb threats every day. Officials said that more than 20 schools in Delhi have received bomb threats through email. According to the police, Richmond Global
Punjab Chunav 2022: AAP targets Congress for not making Sunil Jakhar as CM, says - was not given the post because of being a Hindu
The opposition has attacked the Congress for not making senior Punjab Congress leader Sunil Jakhar the CM despite the support of 42 MLAs. Aam Aadmi Party has linked it to Hindu society. AAP's Punjab
'Forgive me...', Selena Gomez cried inconsolably, unhappy with President Donald Trump's decision, received threats!
These days, America has come into the discussion about some of its big decisions around the world. After taking oath as President for the second time, Donald Trump made some decisions which had an
Himani Murder Case: Police arrested the accused in the Himani murder case, mother alleges that Congress people were involved in the murder
Haryana Police has arrested an accused in the murder case of Congress worker Himani Narwal. Police gave this information on Monday. Sachin, the arrested accused in the Himani murder case, is a
Gyanvapi Masjid Case: Can a fountain run without electricity, know what experts say?
District Judge will now hear the Gyanvapi campus case of Varanasi. After the survey, the Hindu side claimed that a Shivling has been found inside. Some pictures of it have also surfaced. At the same
Sreeshankar became an athlete after leaving medical studies: After 44 years, gave the country a medal in the Commonwealth's men's long jump, parents have also been athletes
India's Murali Sreeshankar has achieved historic success in the Birmingham Commonwealth Games. He won the silver medal in the long jump event with a jump of 8.08 meters. After 44 years, an Indian has
Banking Fraud: RBI to set up Fraud Registry to prevent banking frauds, will increase security of customers
RBI is contemplating setting up a 'Fraud Registry' (Fraud Registry) to prevent banking fraud and strengthen customer protection measures. With the help of this, a database of fraudulent websites,
Dhanashree's heart broke after her divorce from Yuzvendra Chahal, cricketer's ex-wife seen crying in her first post?
Dance choreographer Dhanashree Verma and cricketer Yuzvendra Chahal's marriage has broken. After a long legal battle, Chahal and Dhanashree's divorce has become official on Thursday, Bandra Family
Elon Musk Letter: Musk told the employees - to be present in the office for at least 40 hours every week, otherwise leave the job
Tesla owner Elon Musk's letter to his employees is going viral on social media. In this, he asked the employees to spend at least 40 hours a week working in the office. He said that either the
