Covid effect on MSMEs: Around 8 crore traders in India have suffered a cumulative company loss to the tune of Rs 6.25 lakh crore throughout April due to several Covid restrictions such as lockdowns, curfews, and so on., enforced by state governments. The apex body for traders’ neighborhood Confederation of All India Traders in a statement had shared the information sourced from more than 40,000 associations representing about 8 crore traders below its umbrella. “The total business loss in the Country due to covid pandemic stands at about Rs 6.25 lakh crore for the month of April…The cumulative revenue loss to the government stands at about Rs 75,000 crores,” CAIT stated.
Out of the total company loss of Rs 6.25 lakh crore, there was an estimated company loss of about Rs 4.25 lakh crore to retail corporations whereas wholesale trade suffered a loss of about Rs 2 lakh crore, according to CAIT’s National President BC Bhartia and Secretary General Praveen Khandelwal. “Certainly the business loss figures are not only high and speak about the devastation of the domestic trade but the corresponding figures of death due to covid cannot be overlooked.”
The confederation on Sunday in a communication sent to Prime Minister Narendra Modi urged for a national lockdown to handle the pandemic. It also requested for setting-up of a ‘Pediatric Task Force’ to counter the third wave exactly where children could also get infected.
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Federation of Retailer Association of India (FRAI), which represents about 4 crore micro, tiny, and medium retailers in the nation, had told TheSpuzz Online last month that the lockdown restrictions may possibly price at least about 40 per cent of the month-to-month earnings of micro retailers. “The impact will be across sectors particularly for non-essential categories while kirana stores may have some respite much like last year. If there is a complete and prolonged lockdown across the country then stores retailing non-essential goods and services will be reduced to zero revenue and would have to shut down,” Vinayak Kumar, Secretary-General, FRAI had told TheSpuzz Online.
India, on Sunday, reported more than 4 lakh circumstances for the fifth straight day even as the quantity declined marginally to 4.03 lakh circumstances from 4.14 lakh circumstances on Thursday. While Tamil Nadu, Karnataka, Kerala, Bihar, Delhi are below comprehensive lockdown, states such as Maharashtra, Punjab, Uttar Pradesh, Jharkhand, Gujarat, Telangana and so on., have announced stricter restrictions and weekend or evening curfews, and so on.