Government has focused on Manufacturing sector alone. It has declared 1.97 Lakh Crores
production Linked Incentive for next 5 years. Government is banking on organised sector
which provides only 10% employment opportunities. Unorganised sector which provides
employment to rest has been ignored as no relief or concession has been extended to this
segment of importance.
Sanjay Bansal, President – J&K (Federation of All India Vyapar Mandal) budget has ignored
to empower consumers with more buying power. If demand is not lifted all efforts will have
no impact on economy. Only corporate and agriculture sector seems beneficial out of budget.
Traders and retails who were previously ignored during announcement of stimulus packages
got disappointed as budget could not give any relief to this sector. Neither tax rates on
Partnership firm nor LLP which we demanded at par with Companies, not any benefit in Bank
interest has been extended.
By newly inserted provision on ITC claim, a good money will be blocked in ITC if supplier
fails to file his GSTR-01. Some provision in Income Tax will give relief to all businesses
across the segment.
Traders and Retails expect inclusion in benefit from Atam Nirbhar Bharat by an outlay of Rs
64,180 crore over next 6 years.
Overall, this budget has disappointed middle-class population, including retailers and traders
of nation.
These are the comments on Budget-2021 from Federation of All India Vyapar Mandal.
Federation of All India Vyapar Mandal says on Budget-2021
