Union Budget 2025 | Expecting faster implementation of National Retail Policy, says QueueBuster founder Varun Tangri

Finance Minister Nirmala Sitharaman will present the 8th consecutive Union Budget on February 1, 2025. Reports suggest that the government is mulling over cutting income tax for those who are earning up to Rs 15 lakh a year in February's budget, in turn providing relief to the middle class.

The retail sector has pinned high hopes on the Union Budget FY 2025-26 documents and is keeping its fingers crossed regarding their expectations from the government's most important financial document of the year.

Here's what Varun Tangri, Founder & CEO, QueueBuster has to say--

The Indian retail sector demonstrated robust growth in 2024, surging by 7% during the festive season, driven primarily by a 14% uptick in the food & grocery segment, according to the Retailers Association of India (RAI). With this momentum, industry stakeholders are calling on the government to use the Union Budget FY25-26 as a pivotal tool to address longstanding structural challenges, boost consumer spending, and enhance the ease of doing business.

Key expectations from the 2025 Budget include:

-- Faster Implementation of National Retail Policy: Retailers are eagerly anticipating swift action on the policy to streamline operations and offer a uniform framework for businesses across India.

-- Low-interest Financing & Tax Breaks: Ensuring access to affordable financing and tax incentives will enable retailers to invest in technology and expand operations efficiently.

-- Digital Transformation in Retail: With the increasing convergence of retail and technology, the budget should emphasize incentives for adopting innovative retail technologies, such as QueueBuster-style solutions, which enhance customer experiences and improve operational efficiency.

By addressing these issues, the government can unlock the full potential of India's retail and technology sectors, ensuring sustained growth and competitiveness in the global market.

Union Budget 2025 | Nirmala Sitharaman, who continues to be Finance Minister, will present her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', reports suggest there might be a tax relief for those making up to Rs 15 lakh per year. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.