Traders hope for revival of economic activity from May 4

Vizianagaram remains under green zone category with no cases

A view of the shuttered shops in the Sri Balaji Textile market in Vizianagaram.

Shops and business establishments in the district are hopeful of seeing the revival of economic activity on May 4, after the lockdown 2.0 ends on May 3.

Many strongly feel that the government would provide relaxation to lockdown in areas like Vizianagaram which are under the green zone category. As of now, no COVID-19 positive cases in the district have been reported although cases emerged in neighbouring districts of Visakhapatnam and Srikakulam.

Sri Balaji Textile Market president A. Praveen Kumar said that it was imperative to resume business for small and medium range traders as it was getting increasingly difficult to pay rents, electricity bills, salaries, Professional Tax, Goods and Service Tax and others apart from their own livelihood expenses.

Financial distress

“The Union government should come to the rescue of traders by exempting them from tax burden temporarily, because textile business will not pick up immediately as in these times of crisis, getting essential commodities is the foremost need for everyone,” said Mr. Praveen Kumar, whose market was a source of livelihood to as many as 5,000 people.

SVN Group chairman G. Shiva Kumar urged the government to extend the moratorium on loans for six months while giving exemption from interests. “The State government can reduce electricity charges for commercial establishments. At least 50 percent reduction in rents would minimise the financial burden on the traders,” he said.

Vizianagaram Chamber of Commerce president-elect Kapuganti Prakash urged the government to hold a meeting with traders’ bodies after the lockdown was lifted to understand their grievances, adding that the economic activity should be revived at the earliest to help traders and workers who are on the brink of financial ruin.