Contrary to usual practice, the new Samvat year, the most auspicious day for Indian business, will start from home this year, as traders have downed their shutters across the country to protest against value added tax system to be introduced from Tuesday.
The new Hindi calender year, Samvat 2060, begining n Tuesday would see businessmen country-wide opening new account books with ceremonial prayers at home since their shops were closed on account of two-day 'Bharat Bandh'.
Most of the bullion merchants in the walled city area ifted their shutters in the morning for a short while to take their account books home.
"We have opened our shops and offices for a few minutes in the morning to lift our account books for ceremonial prayers to commence the new Samvat year tomrrow at home," Sheel Chand Jain, president All India Sarafa Bazar, told PTI in New Delhi.
The general secretary of Delhi Vegitable Oils Traders ssociation Ramesh Jain said traders in our business would commence their new year from home and open new accounts with a token transaction on the next day.
The two-day nation-wide bandh called by traders began this morning, marking their stiff opposition to the introduction of VAT in the states.
The bandh call evoked overwhelming response in the wholesale commodity markets as trading at oils and oilseeds, bullion, chemical, steel, sugar, kiryana, dryfruits, grains and pulses was virtually nil.