Union Budget 2022: We have been given step-motherly treatment, say traders

Viren Shah at his Roppam showroom in Crawford Market on Tuesday. Pic/Suresh Karkera

Expressing unhappiness over the Union Budget, traders said it is not immediately for today, but for tomorrow and future years.

Viren Shah, president of the Retail Traders Welfare Association (FRTWA), said, "The expectations of this Budget suits only the corporates, not the common man or traders and small businessmen. Only large manufacturers will gain but the Budget 2022-23 also proposes gradual phasing out of customs exemptions on many items. BJP-government driven and presented budgets are generally trader friendly but this year there was not even a mention. There is no relief and we have been given a step-motherly treatment."

Shah said they are happy that much importance is being given to the Make in India initiative, but they do not yet know if India is competitive enough in producing and selling indigenous items. "The small and mid-level traders also benefit if there is a single-window licence system and the labour laws currently are complicated. Branded clothes that were expensive, will now become cheaper and manufacturers benefit from this. While it is not possible to satisfy every trader, they also are cash-driven and want immediate relief," he said.

Cash flow to go down

With the current Budget, cash flow will drastically reduce at a time when digital India is of utmost priority. The lack of changes in GST or other tax slabs and structures has surely left the traders miffed. Traders want the government to change its ways of buying and selling. They don't think that the foreign companies are a competition, but in fact want to thrive alongside them for the kind of advanced technology and expertise they bring to the market.

"Loans for people who want to invest in MSMEs have been made available but hardly a few have the money to invest. Shopkeepers, hotels, farmers and small traders won't benefit much, while MNCs and industrialists are given an encouraging boost to up manufacturing. During the pandemic, certain industries and sectors have suffered but today they were left out and not considered. Pandemic has killed small shops," added Shah.