The Hindu : New Delhi News : ‘Trade in Delhi down by 20 per cent’

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Tuesday, Jul 15, 2008
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New Delhi

‘Trade in Delhi down by 20 per cent’

Staff Reporter

NEW DELHI: Delhi Bharatiya Janata Party president Harsh Vardhan on Monday said the Delhi Government’s indifferent attitude and the constant increase in prices of household goods had not only affected the residents but also harmed trade and industry in the city.

Claiming that trade in the Capital had decreased by 20 per cent, Dr. Vardhan said revenue for the Delhi Government had declined as a result.

Adverse affect

“Development works have been adversely affected. The Chief Minister and her Cabinet colleagues have forgotten their Constitutional and administrative responsibilities,” he charged.

Dr. Vardhan said industrial organisations across the country had clearly said that inflation would reach 17 per cent by September 2008.

“In this situation, trade in Delhi will fall further by Rs.3,000 crore per month. Then it will go up to Rs.6,000 crore per month. The total annual trade in Delhi is of Rs.2,00,000 crore. The Government receives tax of about Rs.8,000 to 11,000 crore. If the price spiral is not curbed, then the annual trade in Delhi will be reduced to Rs.125,000 crore. Due to this, the revenue of the Government will decrease by 50 per cent. It will also affect preparations for the 2010 Commonwealth Games.”

Pointing out that a survey conducted in Delhi had mentioned that people living in the city had cut down on their shopping and eating out expenses by 70 per cent, Dr. Vardhan said the common man in Delhi was now highly worried about his purse.

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