Pre-Diwali sales dip 40% on DeMo, GST
16 Oct 2017 5:53 PM GMT
New Delhi: As much as 40 per cent drop has been recorded in sales in markets across the country due to low footfall of consumers because of cash shortages, traders body CAIT said on Monday.
With just 3 days for Diwali, "markets across the country are gloomy, having a deserted look with very less festivity and less foot fall of the consumers", resulting in 40 per cent drop in sales in comparison to last year, Confederation of All India Traders (CAIT) said in a statement.
It said less footfall is there in markets because of cash shortage.
It also said that the slowdown is further multiplied by glitches in the Goods and Services Tax (GST), which kicked in from July 1.
"Confusion still prevails to a great extent which is more bothering to traders. Tax compliance of almost all taxes falls in this month only," it added.
Meanwhile, Union minister Harsh Vardhan said that the central government would ensure that noise-free and zero-pollution crackers with no side effect to the health of children were produced in India.
"A conclave of scientists will be held (after Diwali) and we will ensure that we produce crackers for the country which will have zero pollution and zero side effect on the health of children," the science and technology minister said.
His statement in Chennai came in the backdrop of a debate on pollution due to bursting of firecrackers and the Supreme Court temporarily banning their sale in Delhi and the National Capital Region earlier this month.
"Our scientists have taken up this challenge," he said, addressing the valedictory of the India International Science Festival.
Vice President Venkaiah Naidu was among those present at the function.
Recalling the contribution of Jawaharlal Nehru and Syama Prasad Mukherjee after India's Independence, he said they laid the foundation for the growth of science in the country.
"We have decided that in the next one year we will start fellowships for production of films on science and the environment and related issues," he said.
Also, The Mumbai Police on Monday banned the use of flying lanterns during Diwali festival to avoid any untoward incident.
The ban came into effect from today and will remain in force till November 14, a police official said.
Around three years back, the usage of such lanterns with fire crackers had caused incidents of fire in a couple of highrise buildings in the city, he said.
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