January 29, 2019





      Vijyender Sharma

SHIMLA---------     The trading community is deeply upset over announcement made by Shri Rahul Gandhi yesterday of implementing a basic income scheme for poor households costing huge amount of money particularly when the exchequer is facing several challenges.  It will bring political fall out for the Congress as traders will be made the scapegoat of such announcement. It has become a habit of politicians to make unrealistic announcements and waiver at the cost of tax payers which is highly deplorable-said the Confederation of All India Traders (CAIT), apex body of 7 crore small businesses of the Country.


CAIT National President Mr. B.C.Bhartia & Secretary General Mr. Praveen Khandelwal said that it is nothing but merely a political statement of Shri Rahul Gandhi made in the air. The CAIT questioned that. If he is so convinced about his idea, let him start the program immediately in the States where Congress is in the power since they enjoy the majority and no one can stop them in converting such an announcement into a reality.


Both Mr. Bhartia and Mr. Khandelwal said that the announcement if implement will involve tens of billions of dollars and  from where such huge funds will be arranged. The Country is already have a fiscal deficit and balance of payments is not very healthy since our exports do not match the quantum of imports.. Providing minimum basic amenities to the Countrymen at every nook and corner is still a big challenge and various welfare schemes can't be suspended.


Therefore to procure funds, if taxes are increased, the load will fall on traders and already crumbled business will crash down to a great extent. *Traders are deadly against any such kind of sops or waivers since the economic fall out is always on traders*.-said Mr. Bhartia & Mr. Khandelwal. Moreover, such a scheme will bring a slow pace in infrastructure development which is badly needed in the wake of increasing population. It would have been better if Mr. Gandhi instead of making such lofty announcements, device means to develop more and more job opportunities to make people self dependent. 


Both Mr. Bhartia and Mr. Khandelwal said that the traders have to bear the economic pressure and have nothing to gain from such announcement. Possibilities can not be ruled out of a major scam if implemented as large chunk of money will be siphoned out and beneficiaries will remain as it is.


The CAIT while cautioning Mr. Gandhi of making such announcements said that if he is so sound about the idea, he should do a pilot in any State like Chattisgarh, Rajasthan or MP where congress enjoys majority. Still few more months to go for elections and everything will be crystal clear and the Country will come to know RG honesty and fate of such scheme. 


However CAIT strongly reject such a hollow announcement which has been made without applying any mind and worried that the burden of such declarations will fall on traders only and we are in no mood to bear any further load. It will prove to politically disadvantageous to Congress as far as traders are concerned

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