Govt announces welfare board for traders

  1. Commerce and industry ministry has notified the setting up of a ‘National Traders Welfare Board’.
  2. The main objectives of the board will include (a)suggesting simplifications of rules (b)reducing the compliance burden on traders (c)improving access to funds and (d)making recommendations on social security benefits like insurance,pension and healthcare for both traders and their employees
  3. The board will be headed by a senior official from the Department for Promotion of Industry and Internal Trade (DPIIT) and will include members of retailers associations and experts in the field.
  4. The board will have a chairman to be nominated by the government, five experts having knowledge of technical and other aspects of the retail trade and 10 members from various trade associations.
  5. In January,2019,the government had renamed the department of industrial policy and promotion(DIPP) as the department for promotion of industry and internal trade(DPIIT) giving it the additional responsibility of welfare of traders and their employees.