Bolstering Consumption Ought To Be On The Agenda: Govind Shrikhande
Nutan Gupta / 03 Jul 2014
Read on to know Mr. Govind Shrikhande’s comment and expectation from the maiden budget which is just a week away. Shrikhande is the Customer Care Associate & Managing Director at Shoppers Stop.
“The maiden budget of the new government must focus on taking tough steps to revive the economy and regain consumer confidence.
A concrete GST announcement with milestones will be great for the industry over all. As of now, GST and Service tax on rent are a huge challenge for retailers. Therefore, once GST implementation takes hold we will be able to set it off against service tax on rent, which will give a boost to the industry. It will be a win-win situation for both consumers & retailers.
We hope that the government continues to provide relief on excise duty on branded apparel. If restored, it will be a major setback for this job-creating industry.
Finally, bolstering consumption ought to be on the agenda. If personal taxes are reduced, it will improve consumer sentiment, lead to more spends and spur growth.”
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