Sambalpur: Violence in Sambalpur had an unprecedented impact on the market, Business worth 200 crore sunk in 9 days
Sambalpur: The violence in Sambalpur since the evening of 12th april and the subsequent situation has had an unprecedented impact on the market and traders. Small and big businesses have been affected. The most affected are the small businessmen who run their families with some income when the shops and stalls opens.
According to an estimate, the business of Sambalpur city (except Burla, Hirakud) lost Rs 188 crore in 9 days from last 13th to 21st. As a result, traders in the city have suffered a direct financial loss of around Rs 40 crore during this period. Apart from this, about 50 lakh rupees have been spent from the government funds for the security force specially appointed to maintain the law and order in Sambalpur, while about 4 to 5 crores worth of property has been destroyed due to burning and destruction of houses due to violence.
According to a GST official, 25 to 30 crores of CGST and about one and a half times of SGST are collected from Sambalpur city. Accordingly, the taxpayers of Sambalpur, covered by the GST Act, pay about Rs 2.5 crore per day to both the state and central governments. Although this GST is collected in different slabs, if it is taken as an average of 10%, the total daily business will be Rs. 25 crores. There are more than 5,000 small and medium traders, starting from small shopkeepers and peddlers, who do not pay GST. Although their daily business is at least 5 crores, the average daily turnover of Sambalpur city will be 30 crores. Out of the last 9 days, business in the city was completely closed on 14th and 19th. Only 25% of transactions took place on 15th, 16th and 17th. In the same way, 50% of the average daily transactions were traded on 13th, 18th, 20th and 21st. According to this, transactions of 15 crores each on 13th, 18th, 20th and 21st, 300 crores on 14th and 19th, and 22.5 crores on 15th, 16th and 17th could not be done in Sambalpur market. In other words, in the last 9 days, Sambalpur market has lost business of Rs. 188 crores.
