Budget to strengthen cash flow, economy: CAIT

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New Delhi, Feb. 29 (ANI): The Confederation of All India Traders (CAIT) on Monday said the Union Budget will increase cash flow in the Country and will also strengthen the economy.

The removal of 13 types of cess, tax rebates to small taxpayers, incentives to small entrepreneurs and encouragement to declare tax evasion money would increase cash flow in market, said the CAIT said in a statement issued here.

“It is creditable that focus of the Budget has been shifted from corporate to non corporate and farm sectors, but FDI in food processing will enable multinational corporations (MNCs) to control and dominate food sector and neither farmer will be benefitted nor the food industry,” it said.

Increasing target of MUDRA to Rs.1.80 lakh crore will pave way for financial inclusion of unfunded enterprises, but the Mudra should be declared as an independent regulator and Trade Association should be involved in carrying Mudra to actual beneficiary, it said.

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Model shop and Establishment Bill allowing seven days opening of small shops is an attempt to compete with big retail. Banking Board Bureau will streamline banking in the country. Development of 160 airports and construction of 10,000 km roads will improve connectivity and transportation and will benefit trade, the CAIT added. (ANI)

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