Showing posts from July 13, 2014
Traders’ group hails Union Budget,19072014Traders’ group hails Union Budget,
calls focus on non-corporate sector by FM path-breaking
The Confederation of All India Traders (CAIT), the apex body of traders in the country, has heaped praise on the Finance Minister for the announcement in the Budget calling for the creation of a new Financial Architecture for the non-corporate sector. This is the first time in the history of the country where the government has acknowledged the role played by this sector as the backbone of the nation’s economy. Appreciating the Budget provision, Mr Praveen Khandelwal, Secretary General, CAIT said: “The non-corporate sector comprises 5.7 crore enterprises, employs 490 million people and generates 90% of the employment of the country. This sector has been derided by earlier policy-makers as ‘unorganised’ whereas they should be praised as ‘self-organised’. We are delighted that the Finance Minister has announced a new finance initiative designed to support t…