The government is banking on the organised sector which provides only 10 per cent of jobs and has ignored within the Union budget the unorganised sector which provides employment for the remainder , an organisation of traders claimed on Monday.
Traders and retailers who were previously ignored during the announcement of stimulus packages got disappointed because the budget couldn’t give any relief to the present sector, Federation of All India Vyapar Mandal said in his reaction to the budget. “The unorganised sector which provides the utmost employment has been ignored as no relief or concession has been extended to the present segment within the budget. it’s did not increase the buying power of consumers. If demand isn’t raised, all efforts will haven’t any impact on the economy,” secretary of the Federation V K Bansal said.
It appears that only the company and therefore the agriculture sectors got the advantages of the budget, he said.
Bansal said that the govt has focused on the manufacturing sector and declared Rs 1.97 lakh crore production linked incentive for subsequent 5 years.
“However, tax rates on partnership firms and LLPs weren’t made on a par with companies as per our demand. We also didn’t get any benefit in bank interest,” he said.
A new provision on input decrease claim, an honest amount money are going to be blocked in claims if a supplier fails to file his GSTR-01, he said. PTI BSM NN NN