Delhi: Union Budget draws mixed reactions from traders in Gandhi Nagar Market

New Delhi, Feb 1 (SocialNews.XYZ) Traders in Delhi’s Gandhi Nagar Market have expressed mixed reactions to the Union Budget presented by the central government. They have described it as largely “average.”

According to traders, the budget is unlikely to have a significant impact and does not adequately address the issues faced by local markets and small businesses.

Praveen Gupta, President of the Gandhi Nagar Market Subhash Road Association, said the budget is not special and is almost similar to last year’s budget.

He stated that there is nothing new that offers any major benefit to district-level or local traders.

Gupta pointed out that the budget primarily provides relief to people travelling abroad, citing the reduction of a particular tax from 5 per cent to 2 per cent.

He added that market conditions have remained weak since the COVID-19 period and stressed that the government should take concrete steps, keeping in mind the condition of markets and small traders.

Meanwhile, Jitendra Singh, a shopkeeper and member of the association, gave a relatively positive response to the budget.

He said that GST rates on products have been fixed in a balanced manner by the government, which provides relief to traders.

According to him, this will benefit not only traders but also consumers in the long run.

Narender Sharma, Vice President of the Gandhi Nagar Market Subhash Road Association, said that this year’s budget, like the previous one, is ordinary. He noted that business activity is currently sluggish and merely increasing taxes will not solve the problem.

He questioned how traders would be able to pay taxes if business does not improve. However, he welcomed the move to make overseas education cheaper for students and termed the increase in prices of alcohol and cigarettes as a good decision.

Source: IANS