Retail Insight on 7th July 2009

News


Retail sector disappointed; pins hope on incentives
Business Standard
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 today, but said tax incentives and development programmes will spur consumer spending.


Mum on service tax on rentals
Daily News & Analysis
I feel a few definitive measures would impact retail in a positive manner. The additional interest subvention of 1% for farmers who pay their short-term crop loans on time, removal of surcharge on individual income tax and marginal increase in tax exemption for senior citizens and women are some of them.


No excise changes, incentives for cold storage chains
Business Standard
Thomas Varghese, chief executive of Aditya Birla Retail who is waiting to see the fine print says, "If government indeed gives incentives on cold chains, it will help both farmers and retailers."


A Budget aimed at spending
Livemint
Even as it announced an increase in government spending to a historic high of Rs10.2 trillion, thereby providing a stimulus to growth, the Budget sought to put more money in the hands of the consumers by removing a 10% surcharge on personal income tax. This effectively reduces the rate at which lax is levied by 3 percentage points across all income levels. This is expected to encourage people to spend more - another stimulus for growth.


Retail street set to glow
Times of India
Retail street is set to glow brighter. Goods and service tax and more disposable income in the hands of consumers are set to give this sector more sheen.




Budget impact on retail & consumer, logistics sector: PwC
Moneycontrol.com
PriceWaterhouseCoopers report on retail & consumer, logistics sector points out siginificant proposals. Here's a quick snapshot.