Categories: Business

Retail business lost Rs 9 lakh crore in last 60 days: CAIT

Lockdown
Image Source: PTI / FILE

new Delhi. The Confederation of All India Traders (CAIT) has said that India's retail business suffered a loss of nearly Rs 9 lakh crore during the last 60 days of nationwide lockdown. In a statement, this association of businessmen also said that only five percent of the business has been started since the restrictions were relaxed on Monday last week and only eight percent of the workers associated with the business have returned to work.

The statement further said that due to loss in business, the central and state governments have also suffered a loss of about Rs 1.5 lakh crore in the form of GST. "Businessmen across the country are facing severe financial crisis and are worried about the future of their businesses without any policy support from the government," the statement said.

The statement further said that about five lakh outside businessmen used to come to Delhi's wholesale markets to buy goods, but due to the closure of means of transport, the wholesale markets of Delhi are not being traded.

This post was published on May 25, 2020 10:05 am

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