Three pronged approach to revitalise trade!

Q.  GoI has considered a three-pronged approach to revitalise the nation’s retail and wholesale trade. What does this include?
- Published on 17 Oct 16

a. A regulatory body for national internal trade
b. A comprehensive domestic trade policy
c. A board for internal trade
d. All of the above

ANSWER: All of the above
 
Three pronged approach to revitalise trade!The Centre has worked on a three-pronged approach to revitalise India’s retail and wholesale trade– this includes a regulatory body for internal trade, a comprehensive domestic trade body and a board for internal trade
  • The strategy will soon come up for decisions
  • Currently, there is no single regulatory body or ministry for domestic trade- comprising non corporate small businesses providing employment to 460 million people
  • There are about 6 crore such enterprises across the nation with a yearly turnover of INR 30 lakh crore
  • CAIT has conducted 46 conferences across India in the past two months on creating awareness for GST traders
  • It has been estimated that 70 percent of the country’s retail trade has not been linked to computers and digitised

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