Allow Retailers To Be Registered As MSME, RAI Asks CentrePage Visited: 12
RAI in its pre-budget representation mentioned that Centre needs to put some efforts to boost the retail industry to save millions of jobs in the upcoming budget.
January 15, 2021 / 03:59 PM IST
The Retailers Association of India (RAI) requested the Union government on January 15 to accelerate the formulation of the National Retail Policy. Apart from this, the retail industry body also urged the Centre to allow retailers to be registered as micro, small and medium enterprises (MSME) to avail benefits.
RAI, in its pre-budget representation, has mentioned that the Centre needs to put some efforts to boost the retail industry to save millions of jobs in the upcoming budget.
Stating that retailers are not included within the definition of MSMED Act 2008, RAI urged the government to include them and incentivise states to adopt Model Shops and Establishment Act. They opined this would enable states to keep the shops open 24×7 all through the year.
Among other things, the RAI urged the Centre to decriminalise minor offences under the Legal Metrology Act – under consideration by the Department of Consumer Affairs.
“The retail industry was almost squashed during the pandemic. It is slowly getting back on its knees with the opening up of the economy. To get this crawling industry back to its feet and start running, we believe that the budget should address two main things that will bring ease of doing business for retailers and freedom from various procedural strangleholds and access to funds necessary for growth,” BusinessLine quoted RAI CEO Kumar Rajagopalan as saying.
The retail body also recommended modification of Pradhan Mantri MUDRA Yojana Scheme so that financial support for digitalisation to Kiranas & small retailers can be included.