Union Budget garners mixed reactions from retail fraternity

The Union Budget has received mixed reactions from the retailers’ community. For retail experts, the tax reduction announcement from 30 per cent to 25 percent for small companies with an annual turnover of Rs 50 crores along with tax reduction to 5 percent on income Rs 2.5L-5L is going to cheer up retail and consumption, feel the experts. According to Kumar Rajagopalan, CEO, Retailers Association of India, it’s a pro-consumption budget. The Finance Minister has kept something for everyone, with major emphasis on accountability and transparency. We have already witnessed a big tilt towards modern retail post demonetisation and the measures proposed will further accelerate the pace. We await implementation of GST to further the cause of chain store and omni-channel retail in the country.