Rangasamy promises formation of Traders Welfare Board

Puducherry Chief Minister N Rangasamy today promised that a Traders Welfare Board would ne set up soon.
Inaugurating the first state level conference of Traders Federation here, The Chief Minister said he was fully aware of the requirements of traders who made substantial contributions by way of commercial taxes to strengthen the exchequer.
He said that commercial taxes along with excise duty and revenue from industries had been very significant part of the total revenue of Puducherry.
Unlike in the past, the Centre was granting funds to the extent of 30 per cent of the total budgetary requirements of Puducherry while the territorial administration had to mobilise the remaining seventy percent of revenue, he said.

Sivashankar, President of the Federation, said the conference was organised to bring to focus the demand of the traders.
All business establishments remained close in and around Puducherry today to enable the traders participate in the conference.