Budget Expectations: Here is what retail sector expects from Budget
Given that the Government is struggling with rising fiscal deficit industry is not expecting substantial goodies in the form of tax concessions.
March 13, 2012 / 15:38 IST
Nidhi Kansal, Senior tax professional in a member firm of Ernst & Young Global
Given that the Government is struggling with rising fiscal deficit industry is not expecting substantial goodies in the form of tax concessions.Having said the above, reduction in effective tax rate in the hands of individuals has always scored very high on the wish list for the retail industry, as it is directly linked to higher purchasing power in the hands of the consumers which has a direct impact on the growth of the retail sector. Retail sector has not seen many reforms in the recent past except increase in the limit of FDI in single brand retail. Few of the long pending demands of the retail sector may be parked in the following three baskets
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