New Delhi [India], January 14 (ANI): The Confederation of All India Traders (CAIT), representing over 9 crore traders and small business entrepreneurs, has submitted a comprehensive set of budgetary recommendations to Union Finance Minister Nirmala Sitharaman.

In a letter ahead of the upcoming Union Budget, Praveen Khandelwal, Member of Parliament and Secretary General of CAIT, proposed a series of structural reforms to digitise and secure the nation's vast trading community.

The letter emphasises that the 'trading community has always been the backbone of India's economy and a strong pillar of employment generation.' The proposals focus on transitioning to a trust-based business system by introducing a single-window compliance system for small traders and fast-tracking the decriminalisation of business laws.

CAIT has also called for the curbing of unnecessary notices and inspections to foster a more transparent environment.

Khandelwal suggested that all trade-related licenses be issued through a single digital platform featuring auto-renewal provisions in 'One Nation - One License - One Registration' framework to simplify the licensing process. To further the digital transition, the body proposed a 'Digital Dukaan Mission' to modernise traditional retail, supported by a Technology Adoption Incentive Scheme and subsidies on digital tools and software.

Addressing concerns about market equity, the letter seeks the mandatory registration of all e-commerce and quick-commerce companies with the Ministry of Commerce.

Khandelwal urged the government to implement 'immediate checks on heavy discounting, predatory pricing and unfair practices by foreign-funded platforms to protect small retailers.'

The representation also advocates for a Fair Trade Code to be strictly monitored and implemented across every sector of trade.

CAIT has proposed the creation of a National Traders Data Bank, a Trade Ombudsman for speedy dispute resolution, and a dedicated Trade Finance Policy for MSMEs. For individual social security, the letter suggests 'strengthening pension and insurance security for small traders' and making existing pension schemes more practical and inclusive.

Khandelwal also highlighted the need for a Taxpayer Rating System and reduced scrutiny for compliant taxpayers to incentivise honest reporting. The proposal concludes with a request for a 'Cyber Fraud Protection Fund' and stringent data protection laws to prevent the misuse of traders' data by banking and digital platforms.

He notes that 'if traders are empowered with dignity, security, simplicity and equal opportunities,' India's journey toward a USD 5 trillion economy and the goal of Viksit Bharat @2047 will be accelerated. (ANI)