Traders to hit the streets in Delhi today, CAIT demands bill to stop sealing in capital

By: |
Updated: December 19, 2018 10:07:57 AM

Traders' body CAIT will hold a grand rally in Delhi today to raise a strong demand that the government bring in a bill in the ongoing session of Parliament to stop sealing in the national capital.

Sealing drive in Delhi: The rally will be organised under the aegis of the Confederation of All India Traders (CAIT) at Delhi’s Jantar Mantar. (File)

Sealing drive in Delhi: Traders in Delhi will hold a grand rally in Delhi on Wednesday to raise a strong demand that the government bring in a bill in the ongoing session of Parliament to stop sealing in the national capital. Traders would also urge the government not to allow foreign direct investment (FDI) in the country’s retail sector.

The rally will be organised under the aegis of the Confederation of All India Traders (CAIT) at Delhi’s Jantar Mantar.

Earlier this year, the Union Cabinet allowed 100 per cent FDI in single-brand retail under the automatic route. It also eased the local sourcing norms. News agency PTI quoted a top official in the government as saying that the government has no proposal to change the existing FDI policy in the multi-brand retail trading sector.

Read | Manmohan Singh returns Narendra Modi’s ‘silent PM’ jibe, says he was not afraid of talking to the press

Alleging that sealing has distorted and disrupted Delhi’s trade to a great extent, CAIT Secretary-General Praveen Khandelwal asserted that either the government should bring a bill to stop sealing in the ongoing session of Parliament or bring an ordinance just after the conclusion of the current session.

The entry of multinational corporations and FDI in retail trade have damaged the domestic trade to a great extent, he said, adding the shops which have been sealed should be de-sealed immediately.

Khandelwal accused the companies of adopting unhealthy business practices. “These companies are adopting all kinds of unhealthy business practices including predatory pricing, deep discounting and loss funding to invade the retail trade of India,” Khandelwal told news agency UNI.

Also read | Focus on consumer: PM Modi says 99% of items to be under GST rate of 18% or less

Despite amendments in the Master Plan by the central government, the attitude of the Monitoring Committee has been proving to be a hindrance in de-sealing of the shops covered under the amendments of Master Plan.

The move has affected lakhs of people. For long, the matter is pending before the Supreme Court and no decision has been made so far. Now, The traders have pinned their hopes on the central government.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.