Delhi traders to shut shops over rising prices
New Delhi: Traders will shut shops in Delhi Saturday to protest the rise in prices of diesel and other items.
The Confederation of All India Traders (CAIT) Friday called for shutdown, saying traders were unhappy with the Delhi government`s decision to increase in Value Added Tax (VAT) slabs.
"Traders will hold protest marches and shops will remain shut across the capital," CAIT secretary general Praveen Khandelwal said.
"If the diesel and VAT slabs are increased, then trade will shift to neighbouring states and it will lead to a big business and revenue loss to Delhi," he said.
Demanding withdrawal of rise in VAT slabs, Khandelwal said: "On a rough estimate, Delhi will lose around Rs.60,000 crore of business and revenue of Rs.5,000 crore."
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