Vishal Retail Group President Ambeek Khemka said that besides granting industry status to the sector, the government should allow FDI into multi-brand retailing and announce some special sops for the sector.
Further, he also said the central service tax should be abolished as it is having a negative impact on the sector’s profitability.
Future Group CEO Kishore Biyani said, however, that the industry was not expecting any big packages or tax concessions from the budget but wanted the government to provide a big boost in consumption.
“We believe increasing consumption should be a priority for the government rather than focusing just on investments,” Biyani said.
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