New Delhi, Apr 3 (KNN) The Confederation of All India Traders (CAIT) has said that current lockdown situation in the country due to COVID-19 outbreak would harm small traders if the government fails to provide measures to deal with such crises.

''The current situation of lockdown in the country said that without a full proof rearguard stimulus from the government to tackle the miseries arising out of this unprecedented Covid19 lockdown, a significant portion of Indian traders will face a quite tough time and due to financial crunch will die a natural death,'' CAIT said in a statement on Wednesday.

According to its National President B C Bhartia and Secretary General Praveen Khandelwal, around one crore trading units are engaged in essential goods category out of which only 20 per cent to 25 per cent are able to conduct their business activities.

"India's local kirana stores have shown tremendous resolve and determination to stand with the nation in these difficult times whereas the so-called multinational e-commerce giants who talk big about their technological prowess have all meekly surrendered to the situation," Khandelwal said.

The duo further asserted that approximately more than 6.5 crore traders have completely downed their shutters in view of the national lockdown and have absolutely no means of revenue and will remain without income for a longer period, adding that ''stimulus announced by the government may not provide relief for the long term.''

''Even though the Govt has announced certain measures like deferment of various regulatory compliances and deferment of loan instalments etc and these measures will ease out some working capital pressure in the short term, without a proper stimulus package, these measures will be highly insufficient,'' CAIT added.

The association the government to waive off bank interest charges for the effective lockdown period "on all kinds of loans, deferment of all tax payments for three months to ease working capital and liquidity, capping of the rental to 25 per cent – 35 per cent so that both landlord and tenant can survive the tough period, reductions in salary burden for the lockdown period," it said. CAIT asked the government for 'force majure' at ports, railways etc. to secure goods already stuck there.