Traders to chalk out plans about 'Bandh' against hike in VAT soon - India News and Travel Times Provides India-centric and other News and Features

Traders in the national capital, having protested on Saturday for half day, decided to hold three meetings in next few days to chalk out their future strategy about the Bandh call against the hike in VAT slabs. The first meet to be held in Delhi on April 2, and the other two on April 8 and 9 in Nagpur in which the trader groups will take decision about the 'Bandh' and whether to observe an indefinite Bandh or not. The decision will also take into view of the government' reaction upon VAT in the next few days, if any. Traders in the national capital, earlier in the day, gave a public call to observe 'Delhi Bandh' in protest against the Delhi Government's proposal to increase in the VAT (Value Added Tax) slabs. However, they hadn't spell out any fixed date for the proposed Bandh. A decision to this effect was announced after the traders under the banner of Confederation of All India Traders (CAIT) gathered to stage a demonstration on Saturday (March 27). The Delhi government in its Budget 2010-2011 proposed to hike VAT slabs on different commodities. The Confederation of All India Traders (CAIT) called for a shutdown across Delhi and traders closed their shops till 1 p.m (local time) as a mark of protest. Protest marches were also taken out in several markets and commercial hubs in Delhi. The traders later gathered at the Chowk Hauz Qazi and staged a sit-in protest demonstration. Demanding the withdrawal of VAT slabs rise, Praveen Khandelwal, Secretary General of CAIT said that increase in VAT slabs would lead to outstation traders, who throng Delhi markets in large numbers every day, shifting to neighbouring states. He also mentioned that the Delhi government would lose revenue to the tune of rupees 5,000 crore. "The way the Delhi government in its Budget proposal 2010-2011 proposed to hike the VAT slabs, it will severely affect trade in Delhi. Thus Delhi will become costly in comparison to other states and all those outstation traders, who come to Delhi every day will go to neighbouring states for their business deals. All this will affect the traders of Delhi and the Delhi government would lose around rupees 5000 crore revenue," said Praveen Khandelwal.