Jewellers strike has cost more than Rs 1 lakh cr and one suicide; micro entrepreneurs worst affected

New Delhi, Apr 4 (KNN) The proposed 1% excise on jewellery in the Budget is giving a tough time to the government as well as the jewellery sector especially the micro and small entrepreneurs who are not ready to compromise with each other’s demands.

The agitation by the jewellery traders has grown so vigorous that there has been a reported suicide by a trader in Punjab.

The jewellers are on strike since past one month asking the government to roll back the proposed excise.

Talking to KNN, Ashok Kumar, Secretary General, Delhi Jewellers Association, said, “The strike is indefinite. Delhi chief minister Arvind Kejriwal is supporting us and has asked the government to roll back the proposal.”

The strike has already incurred a loss of more than Rs 1 lakh crore across India, he said adding that there has also been loss of one life in Punjab.

“The final jewellery comes after going through 7-8 stages so it’s difficult to maintain the accounts of all. Imposing excise would make things difficult for us and especially the small and micro entrepreneurs,” Kumar said.

“Why is government trying to ruin Made in India in the name of Make in India,” he cried.

The jewellers are also agitated over the move to give pan card numbers for purchase above Rs 2 lakh.

“These moves will bring inspector raj back and would adversely affect the jewellery sector, the third largest employment generator in the country,” he said.

“Jewellery sector has significant contribution towards GDP of the country. Earlier too the UPA government had proposed excise duty but had rolled back after consulting stakeholders,” he pointed.

In 2012, the union government had imposed a one per cent excise duty which it was forced to rollback after jewelers protested. This time, the protest is also to show their unhappiness against showing of pan cards on every purchase over Rs 2 lakh. (KNN Bureau)