5 CRORE TRADERS CLOSED TODAY IN BHARAT BANDH
More
than 5 crore business establishments across the Country observed Bharat
Bandh today in response to a call given by political parties. As per an
estimate Retail business worth 6000 crores of rupees effected resulting
into a loss of about Rs. 800 crores from indirect taxes as revenue to
the Government – said the Confederation of All India Traders (CAIT).
CAIT National President B.C. Bhartia and Secretary
General Mr. Praveen Khandelwal strongly questioned the so called “loss
theory” of the Oil Companies which has prompted them to raise the petrol
prices. They argued that if such Oil Companies are in losses than how
come they are paying dividend to their shareholders and heavy bonus to
their employees.
While demanding a Public Audit of the accounts of Oil Companies,
both Mr. Bhartia and Mr. Khandelwal said that Oil Companies are showing
huge profits in their annual accounts, so where is the question of
incurring losses.
When crude is processed there are number of items
produced from crude. The Government should make people aware as to what
all the items those processed from crude oil and what is the processed
and sale prices of such items in the market. The govt should spell out
the difference between the actual crude price, conversion value, tax
component on Petrol and Diesel. Let there be transparency in the whole
system-added the leaders.