Anjan Chatterjee, CMD of Speciality Restaurants also said that people are not in a mood to spend due to uncertainty.
and consumer economy expert Rama Bijapurkar spoke to CNBC-TV18 about the consumption pattern ahead of general elections starting next month.
"The glory days of 20-25 percent growth for consumer sector are over," Bijapurkar said on Friday.
“However, consumer is always happy to consume. The consumer wants to consume, consumers have confidence in the long future, every subsequent generation is actually doing better than the previous generation and we all know that. The question is what happens to sentiments and what happens to incomes,” she added.
Talking about the stimulus-led growth, Bijapurkar said, “Based on the income data that my think-tank has, we find that even the Congress transfers are basically limited to the lowest 10 percent; the lowest 10 percent are dissevers. So first, they have to stop borrowing all the time because how much they spend – earn minus how much they spend is negative. Let’s separate out subsidy from boosting incomes. Incomes can only boost with investment and if the economy is doing well.”
According to Chatterjee, "People are not in a mood to spend due to uncertainty."
“However, eating out will never go out of fashion. Yes, there are competitive issues in the sense that you have the deliveries so we are working on the deliveries in a big way. So we are reorganizing ourselves but there is no question of anybody saying that the food industry will go through a bad patch,” he added.Source: CNBC-TV 18