Traders raise alarm: High TDS charges and co-operative bank woes in spotlight

Modi @9 campaign: Ministers interaction with city traders

Chhatrapati Sambhajinagar: In the ongoing Modi @9 public relations campaign, traders have urged the government to lift the withdrawal restrictions imposed on co-operative banks, reduce business taxes, and electricity bills. These concerns were raised during an interaction programme with city traders held at the IMA hall on Sunday.

The event saw the presence of union minister of state for finance Dr Bhagwat Karad, and cooperation minister Atul Save. During the discussion, trader Vinod Lohia highlighted the burden of high-interest rates associated with Tax Deducted at Source (TDS). He appealed for a reconsideration of these charges. Ajay Shah expressed the difficulties faced by traders while seeking loans from banks and emphasized the need to reduce profit margins for the banks. He further emphasized the adverse impact on common citizens and the increasing instances of bank insolvency.

Responding to the concerns raised, Dr Karad assured that the Central government would evaluate policies regarding TDS and withdrawals from co-operative banks. He also stated that the decision-making process on resolving bank-related issues would be discussed in the directors meeting. Traders also pointed out loopholes in the Goods and Services Tax (GST) system and demanded a dedicated hour for discussing traders problems in the state legislative assembly and Lok Sabha sessions.

Save addressed the rising cost of electricity, attributing it to a decrease in coal imports. He assured that business taxes would be deliberated upon in the cabinet.

BJP leader Shirish Boralkar, Adeshpal Singh Chhabda, Sanjay Kankaria and others were present.