Traders, small businesses have lost ₹75,000 crore during second wave: FKCCI

Traders and small-scale establishments in Karnataka incurred losses to the tune of ₹75,000 crore during the second wave of the pandemic, estimated FKCCI. Over 30 lakh people in the State lost jobs during this period, it said.

The trade body on Thursday sought a special MSMEs relief package of ₹20,000 crore — 10% of the sector’s annual contribution to the exchequer — from the State government. Perikal M. Sundar, president, FKCCI, said the trade body made a submission to the government asking for extending the relief to trade, industry, and business community which have been adversely affected by the lockdown that started on April 27.

“We strongly objected to the average increase in power tariff of 30 paise per unit for all consumers and requested the government to give directions to the KERC to withdraw the hike for the next two to three years due to the pandemic situation,” Mr. Sundar said.

Some of the fresh demands made by the trade body include a 50% concession on property tax and licence fee payable to the BBMP and local bodies for two years, reimbursement of salaries and wages for three months, and interest subvention of loans availed from banks and KSFC for six months.

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Printable version | Jul 30, 2021 1:39:52 PM | https://www.thehindu.com/news/national/karnataka/traders-small-businesses-have-lost-75000-crore-during-second-wave-fkcci/article34844441.ece

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