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.
The deepening close of Iran and China increases India's problems
There has been an ambitious deal in Iran and China, which is now eyeing the whole world. This strategic and trade agreement between the two countries will be valid for the next 25 years. After this
UP ITI Admission 2022: Application begins for Uttar Pradesh ITI admission, know how to apply
UP ITI Admission 2022: Good news has come out for lakhs of students. The process of application for admission in various government and private ITI institutes of Uttar Pradesh has been started. The
Finance Minister Nirmala Sitharaman will hold a press conference at 4.30 pm, it is possible to discuss these issues
Union Finance Minister Nirmala Sitharaman is scheduled to hold a press conference on 'Important Economic Issues' on Tuesday at 4.30 pm. According to a media advisory issued by the government,
Bigg Boss 17: Salman Khan had fun with Elvish Yadav on 'Trophy Controversy', 'Bigg Boss OTT 2' winner said this
Bigg Boss 17: It has been more than three weeks since Salman Khan's show 'Bigg Boss 17' started. In such a situation, full-on drama is being seen continuously in the show. Recently, the third weekend
Akshay Kumar: 'One should accept the failure of his films', Rajatav Dutta praised Akshay's statement
Bollywood player Kumar i.e. Akshay Kumar is in discussion about his film 'Selfie'. Akshay's film did not manage to do well at the box office. The film 'Selfie' has collected only Rs 10.2 crore in
Harvard Row: Why was Harvard banned from admitting foreign students, what is the impact of Trump's decision on India?
Harvard University will no longer be able to admit foreign students. The Donald Trump administration in the US has blocked Harvard University's ability to enroll international students amid growing
Mass Murder in Uttarakhand: Murder of five members of his own family by slitting his throat, 3 children including his mother and wife were put to sleep.
Mass Murder in Uttarakhand: A case of murder of five members of the same family has come to light in the Doiwala area of Dehradun. The deceased included their mother, wife, and three daughters
Corona Vaccination: Who will get 45 cross corona vaccine from March 1, know everything in detail
The central government has announced to start a campaign to apply corona vaccine to people above 60 years of age from 1 March. Along with this, vaccines will also be applied to those who are 45 years
Pakistan Crisis: Pakistan is on the way to Sri Lanka, a country facing an economic crisis; Unemployment and debt a big problem
Pakistan, trapped in an economic crisis, is also slowly moving forward on the path of becoming Sri Lanka. The economy of Pakistan is like a ticking time bomb. Sri Lanka's economic crisis has now also
India-Qatar: India-Qatar signed economic agreements, and will work together in these areas
The Finance Ministry said on Tuesday that India and Qatar have signed an agreement to promote and develop cooperation in economic policies along with the framework of public-private partnership and
