CAIT flags traders' inability to pay full salary for April, seeks Goyal's intervention
As the country battles COVID-19, traders' body CAIT on Thursday said traders are facing tremendous financial crunch and payment of full salary for April to their staff was next to impossible.
The Confederation of All India Traders (CAIT) has written to Commerce and Industry Minister Piyush Goyal seeking his intervention in the matter.
"If such payments are made, the business of the traders will fall like anything and in absence of any inflow of money, such payments will be disastrous for the retail trade of the country and in turn will badly affect the economy," CAIT Secretary General Praveen Khandelwal said in the letter to Goyal.
He said it is becoming difficult for traders to pay full salary for the month of April to their employees since they are experiencing "tremendous financial crunch and any full payment of salary to the employees for the April month is next to impossible".
CAIT said, while realising the unprecedented current situation, the government should devise a method ...