THIRUVANANTHAPURAM: Given the fact that one-third of the trade takes place during the Onam-Bakrid season, traders and related workers in Kerala are facing a crisis. This has turned out to be a severe blow to the government as well. Last year, the state had expected a turnover of Rs 5 lakh crore. However, the actual turnover was only Rs 3,62,620. Had trade worth Rs 5 lakh crore taken place, the government could have received Rs 75,000 crore in tax revenue. It could have received Rs 25000 crore in tax revenue during the Onam season. However, it received only Rs 18,131 crore.
This time, the state is facing the threat of the third wave of Covid. If the government does not take a wise decision to allow the opening of shops, it will lead to a huge crisis.
The Onam market has been remaining dull for the last three years. While it was Covid that affected the trade in 2020, the market was severely hit by the floods in 2018 and 2019.
If the trade gets adversely affected during this Onam season as well, then families of a large number of traders and families will be in huge distress.
20,000 traders gave up trade
The Kerala Vyapari Vyavasayi Ekopana Samithi estimates that 20,000 traders who pay Goods and Services Tax (GST) gave up trade as most of the shops and establishments remained shut down. More than 10 traders committed suicide. Stock worth Rs 20,000 crore got destroyed. New stock acquisition for Onam is also in limbo.
Turnover