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Kochi Corporation budget has more shocks for retailers
Posted On: 28-03-2008 08:20:21 AM

In its annual budget the Kochi Corporation has decided against granting license to national or multi-national retail monopolies in Kerala’s commercial hub. The license fee for supermarkets and malls has been hiked to a minimum of Rs 1 lac. The fee will go up depending on the area of the mall. The civic body will also impose Rs 30,000 as development surcharge on supermarkets. Additional permits would be required to sell fish and meat. The ruling CPI (M) has pledged support to the merchants’ protest against the entry of retail giants like Reliance and Wal-Mart. Though the government has mooted an act to shift the licensing power from local bodies to the state government, merchants associations have been seeking a blanket ban on retail giants.

 
 
 

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