DELHI TRADE BANDH ON 17 MARCH IN SUPPORT OF JEWELLER STRIKE

DELHI TRADE BANDH ON 17 MARCH IN SUPPORT OF JEWELLER STRIKE

Vijyender Sharma

SHIMLA----The Delhi trade will observe a Delhi Trade Bandh on forthcoming 17th March in support of jewellery traders who are on an indefinite strike against budget levy of 1% excise on manufacturing of gold and diamond jewellery. The decision was taken yesterday night at a meting of trade leaders of Delhi which was convened by the Confederation of All India Traders (CAIT). The meeting was attended by trade leaders of more than 200 trade associations from all parts of Delhi. Its a joint call of all trade associations of Delhi for expressing solidarity with jewellery trade. The Delhi traders will also participate in large numbers in a massive Rally to be held the same day by Delhi Bullion, Jewellers, Swarankar Action Committee which is likely to be attended by the jewellers from all over the Country. CAIT National President Mr. B. C. Bhartia presided over the meeting.

CAIT Secretary General Mr. Praveen Khandelwal has appealed Union Finance Minister Mr. Arun Jaitley to conceive other options for generation of revenue and the trading community is prepared to make suggestions in this regard and therefore Mr. Jaitley should  initiate dialogue with striking traders to resolve the stalemate.  The traders are not afraid from collecting and paying the tax but it is the complex taxation system which is victimising the trading community. Several other options are available for augmentation of revenue and therefore the Government should withdraw levy of excise on jewellers.

As per an estimate during the 8 days strike period there is a business loss of about Rs.8500 crores of rupees which further resulted into a revenue loss of about 250 crore in shape of custom duty and about 65 crores as VAT tax all over the Country. India is importing about 1000 M/T Gold per year. It is interesting to note that about 45% import of gold is used for making jewellery. The above facts clearly reflects a position where the Government is losing huge amount of revenue each day, the traders are holding strike.

**VijyenderSharma*, Press Correspondent Bohan Dehra Road  JAWALAMUKHI-176031, Kangra HP(INDIA)*
 
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