Friday, August 10, 2012

The Budget can do is set a time frame

The least the Budget can do is set a time frame and an action mechanism to address the issues pertaining to its legitimate growth as an Industry of the future

Some of the measures that would be welcome by retailers would include the painting on the canvas of a long term vision by the government; the setting up of an existing or a new ministry to explicitly handle the requirements of the retail sector; the evaluation of various licensing laws, both central and state, that govern the retail trade by default than by design (as the laws are clearly not meant for large players who are much more reliable); the rationalisation of acts like Weights and Measures, Shop & Establishment. Besides these, reatilers would appreciate revising Labour Laws, 24x7 work hours, work timings for women etc. from the purview of the involvement of malls & reputed retailers; the abolition of service tax on rentals that is adding huge burden to the already stretched economics of retail; and many allied matters.

The least that the budget can do is set a time frame and an action mechanism to address the issues pertaining to its legitimate growth as an industry of the future. The retailers are hoping that this year’s budget would be the watershed year for its future in India. Fingers and toes crossed!




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