On Nerandra Modi's maiden budget AIR correspondent reports that the retail sector expects the government to focus on rationalization of tax regimes, minimizing production costs, correcting supply chain bottlenecks and increase in the growth-oriented investments. The Confederation of the All India Traders has demanded the implementation of the Goods and Services Tax. National Secretary General of Confederation, Praveen Khandelwal called for the provision of finances to petty traders and institutionalization of Retail Regularity Authority.Financial market Expert, Kumar Bijoy said that Foreign Direct Investment in Multi Brandi retail has both positive and negative outcomes. Retail sector has enormous potential for employment opportunities. Therefore, tax benefits and incentives need to be focused. Rolling out GST provisions will boost consumption, reduce prices and remove various indirect tax inefficiencies currently faced by retailers. Investment is required for the betterment of retail infrastructure and promoting capital expenditure.
News On AIR | July 6, 2014 7:27 PM
Retail sector expects Centre to focus on rationalization of tax regimes