July 7,2009
Organised retail players are a disappointed lot with no mention of the sector being made in the
Budget 2009-10 by Finance Minister Pranab Mukherjee on Monday, but said tax incentives and
development programmes will spur consumer spending.
They said they were disappointed as there was no mention of either Foreign Direct Investment
(FDI), or industry status for retail, despite recommendation by the Economic Survey last week to
allow FDI in multi-format retail.
Industry officials, however, welcomed the budget announcement of implementation of Goods and
Services Tax (GST) from April 1, 2010.
They said proposals like abolition of Fringe Benefit Tax (FBT), hike in the personal income tax
ceiling and huge increases in outlay for infrastructure will bring indirect benefit to the sector by
raising consumer spending.
Source: http://in.biz.yahoo.com/090706/50/batudk.html
Organised retail players are a disappointed lot with no mention of the sector being made in the
Budget 2009-10 by Finance Minister Pranab Mukherjee on Monday, but said tax incentives and
development programmes will spur consumer spending.
They said they were disappointed as there was no mention of either Foreign Direct Investment
(FDI), or industry status for retail, despite recommendation by the Economic Survey last week to
allow FDI in multi-format retail.
Industry officials, however, welcomed the budget announcement of implementation of Goods and
Services Tax (GST) from April 1, 2010.
They said proposals like abolition of Fringe Benefit Tax (FBT), hike in the personal income tax
ceiling and huge increases in outlay for infrastructure will bring indirect benefit to the sector by
raising consumer spending.
Source: http://in.biz.yahoo.com/090706/50/batudk.html
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