Wednesday, March 24, 2010

Delhi Budget 2010-11: Traders claim to lose trade worth Rs 60k cr

New Delhi, Mar 24 (UNI) Delhi will lose trade worth about Rs 60,000 crore annually if the proposed hike in fuel and VAT rates in the Delhi Budget 2010-11 persists, city traders claimed today.

Lambasting the Delhi Government for its ''anti-people'' Budget, the Confederation of All India Traders (CAIT) today estimated that as the city would be more expensive, large amount of its business would be shifted to other states.

CAIT Secretary General Praveen Khandelwal said out of city's total annual business, the VAT collection was around Rs 15,000 crore per annum.

''However, by Delhi Budget proposals, it is expected that Delhi would loose around 30 per cent of its trade and a VAT revenue approximately of Rs 5000 crore,'' he noted.

Mr Khandelwal re-asserted his demand that the Delhi Government should rollback diesel and VAT slabs. ''There would be a price hike of about 15 per cent, burdening the 'aam aadmi' including traders,'' he said.

He alleged that the Government was forcing the Commonwealth Games on the city and country has nothing to gain out of the event.

''Delhi does not need these games if the prices are so high to bear in present and future,'' he said.

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