BENGALURU: The next wave of Covid-19 illnesses price over 30 lakh projects and caused by 75,000 crore in reductions to the commerce and business neighborhood and just a Rs 20,000 crore relief package will help aligning the circumstance, the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) has stated.
In a media discussion Thursday, members of FKCCI literally delivered an SOS to the country authorities, stating the pandemic has struck on the commerce and business sector hard and it is dangling by a thread.
“When dealers from all industries were recovering in the lockdown as a result of very first Covid-19 tide, the next wave arrived and it was fatal,” explained Perikal M Sundar, president, FKCCI.
“Night curfew in April 10 along with also the whole lockdown which came in to effect from April 27 happen to be enormous body blows.
Losses incurred in this lockdown would be to the tune of Rs 75,000 crore along with also the reduction of earnings by taxation on this state exchequer is approximately Rs 10,000 crore a month” Sundar said businesspeople at Bengaluru endured the most have incurred losses to the tune of 60 percent since April this year.
FKCCI stated it came in amounts of job reductions and fall in earnings in the country after a research on the effects of the next wave on commerce and companies.
And as the government has offered some concessions concerning expansion of tax obligations for dealers, the federation needed an immediate relief package of Rs 20,000 crore or even 10 percent of the contribution into the state exchequer.
“The government has recently obtained GST of about Rs 84,000 crore, Rs 22,851 crore from country excise in spirits sales, Rs 16,000 crore from gas and petrol and Rs 1.2 lakh crore from revenue taxation roughly.
In light of the present crisis faced by commerce and business together with all the lockdown, the authorities should look at allocating a minimum of 10 percent of the earnings produced by the industry,” Sundar highlighted.
Included in this aid package, the federation required power price concessions, 50 percent concession in land taxes and license fee payable BBMP and nearby bodies for 24 weeks.
In addition, it sought reimbursement of salary and salary of employees in these businesses for three months plus an interest subvention of loans obtained from banks and also KSFC for just six months.
The FKCCI press briefing was attended by IS Prasad, senior vicepresident, along with BV Gopal Reddy, vicepresident, that demanded that shops — even people working in nonessentials — at the country, particularly in the central business area of Bengaluru, be permitted to start with stringent Covid-19 security criteria from 6am to 2pm.
They stated this could be a direct step to animate all businesses and trade in Karnataka.