Unorganised sector ignored in budget: traders body

If demand is notraised, all efforts will have no impact on the economy,secretary of the Federation V K Bansal said.It appears that only the corporate and the agriculturesectors got the benefits of the budget, he said.Bansal said that the government has focused on themanufacturing sector and declared Rs 1.97 lakh croreproduction linked incentive for the next 5 years.However, tax rates on partnership firms and LLPs werenot made on a par with companies as per our demand.

The government is banking on theorganised sector which provides only 10 per cent of jobs andhas ignored in the Union budget the unorganised sector whichprovides employment for the rest, an organisation of tradersclaimed on Monday.

Traders and retailers who were previously ignoredduring the announcement of stimulus packages got disappointedas the budget could not give any relief to this sector,Federation of All India Vyapar Mandal said in his reaction tothe budget.

''The unorganised sector which provides the maximumemployment has been ignored as no relief or concession hasbeen extended to this segment in the budget. It has failed toincrease the buying power of consumers. If demand is notraised, all efforts will have no impact on the economy,''secretary of the Federation V K Bansal said.

It appears that only the corporate and the agriculturesectors got the benefits of the budget, he said.

Bansal said that the government has focused on themanufacturing sector and declared Rs 1.97 lakh croreproduction linked incentive for the next 5 years.

''However, tax rates on partnership firms and LLPs werenot made on a par with companies as per our demand. We alsodid not get any benefit in bank interest,'' he said.

A new provision on input tax credit claim, a goodamount money will be blocked in claims if a supplier fails tofile his GSTR-01, he said.