(MENAFN- KNN India)
New Delhi, Feb 1 (KNN) Kumar Rajagopalan, CEO, Retailers Association of India, has expressed strong support for the provisions in Budget 2025, highlighting several key measures that directly benefit the retail sector.
A significant move is the increase in the income tax exemption limit to Rs 12 lakh, offering much-needed relief for an industry that faced reduced consumption over the past year.
The boost to consumption is expected to drive business growth for retailers, creating a positive economic impact.
The budget also introduces expanded benefits for micro, small, and medium enterprises (MSMEs), including enhanced access to credit, the introduction of customised credit cards, and the establishment of a new Fund of Funds.
These initiatives are expected to foster innovation and product diversification, leading to increased market supply and heightened competition.
A key focus of the budget is the simplification of regulations and the promotion of state-level reforms to improve the ease of doing business. These efforts are anticipated to enhance the retail environment, making it more conducive for growth.
Additionally, the recognition of gig workers, including the provision of e-Shram ID cards and health coverage, is expected to strengthen the omnichannel retail ecosystem by enhancing last-mile delivery and supporting digital commerce.
The budget also includes industry-specific support for sectors such as footwear, leather, toys, and electronics, which will aid in scaling up these industries.
Moreover, the provisions for working women, including the establishment of hostels and crèches, are set to improve workforce participation in retail, especially among women workers.
(KNN Bureau)
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