By Harkirat Singh,
"We are quite optimistic and have high expectations from the upcoming union budget as all eyes are now on the FM for presenting the new budget. We can look back at the year that went by and see that there has definitely been some improvements in consumer sentiments and business confidence.
From the industry perspective, if retail players are going to penetrate in deeper India, like Tier III and IV cities, there need to be improved infrastructural facilities available. The measures for ease of doing business, including relaxation of non-compliance penalties, would be welcome. We hope that the government would also lay emphasis on curbing inflation as increased inflation affects consumer’s buying power which further affects the retail market. We hope to see favourable policies for the growth of the retail sector in this year’s budget.
The government has been proactive in taking decisions on rationalizing the GST law and tax rates, challenges in GST compliance, contradictory advance rulings and introduction of TCS, continue to keep the industry on the edge. If the government addresses the above in the upcoming budget, it will help not just retailers, but also the end-consumer."
The author is the Managing Director of Woodland.
