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Tribune News Service
Amritsar, April 22
Ahead of the Lok Sabha elections in the state, industrialists and traders have sought politicians’ attention for the border districts, especially Amritsar.
Raman Gupta, proprietor of Hindustan Pharmaceuticals, a cent per cent export unit, said demonetisation left a negative effect on small and medium enterprises (SMEs). Considering that this sector accounts for 45 per cent of the GDP and 80 per cent employment to the economy, a ban on cash can be catastrophic both in terms of growth and equity.
With the cash transaction lowering in the short-run, the SME is apparently facing a fallout. Given that 80-90 percent of the work culture in the small industries is based on cash, entire business is utterly affected with trade going down tremendously, which till date has not returned to track, traders said.
The Punjab Pradesh Beopar Mandal (PPBM) demanded waiver of Rs 31,000-crore loan of the Punjab government against the FCI limit to procure wheat and rice by the Central Government. It also wants that the manifestoes of the political parties be made legal documents and graduates must be permitted to contest elections. They also sought special economic package for Punjab.
PPBM president Piara Lal Seth said the retirement age of the business community must be fixed at 60 years which form about 30 crore population. Medical insurance worth Rs 10 lakh to GST-registered people’s families should be there, he demanded.
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