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Budget 2023
Budget 2023

Budget 2021 | Government should look at reviving consumption for economic growth

With the government’s focus on the Make in India and Atmanirbhar Bharat, budgetary initiatives will continue to promote Indian startups.

January 30, 2021 / 05:53 PM IST

This finanical year has undergone a myriad of changes, especially when it comes to the consumer buying behaviour and spending patterns. With economic pressures rising, most consumers are now cautious about their shopping expenditures, particularly their discretionary spends. Hence, we have witnessed value-conscious decisions gaining ground, if not price-conscious ones.

With this makeover, we have also seen brick and mortar stores, various small sellers and micro, small and medium enterprises (MSMEs) now adding e-commerce platforms as a new channel to explore incremental revenues. We expect Budget 2021 to provide a focused view on retail and e-commerce players, small retailers and MSMEs operating in this space.

Here are some areas which we believe that the Budget could cover this year:

a) E-commerce focus on data protection and consumer interest