‘Budget termed as progressive economic document’

The Confederation of All India Traders on Wednesday called the Union Budget a “progressive economic document which ensures development of each and every sector”.

The trader body, headquartered in Delhi, screened the Budget live in Khan Market parking area, starting 10.30 am.

“The Union Budget is a comprehensive and progressive economic document which ensures development of each and every sector in a structured way and provides ease of doing business to traders, ensuring robust growth in health sector and other services.

Efforts to benefit the small manufacturing units will leverage the trading sector since the manufacturing goods and consumable income will come to economy and therefore will meet the current challenges of financial liquidity in the trading sector,” said BC Bhartia, National President and Praveen Khandelwal, Secretary General of CAIT.

The leaders said that finance minister Nirmala Sitharaman had given a push to entrepreneurship.

They also lauded the tax exemption of upto Rs 7 lakh and the creation of 5 tax slab in Personal Income Tax.“We regret that nothing concrete announcement has been made regarding simplification and rationalisation of GST tax structure which is far away from “one market-one tax” principle and has highly disappointed the business community. However, from the point of view of economy, it is a visionary budget,” they said.

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