(Hema Palgamkar is a senior tax professional at EY)
(Hema Palgamkar is a senior tax professional at EY)
With the business sentiments of Indian and foreign investors soaring, it's time for the Modi Government to lay down a clear roadmap for economic growth of the country. It's time for Finance Minister to unveil the pro-growth reforms which the India Inc has been yearning for.
Retail industry, specially, are eyeing some big bang reforms that will not only boost existing CAGR of 15 per cent but also help eliminate obstacles viz inadequate physical infrastructure, inefficiencies in supply chain, complex regulatory environment, that has been long plaguing the industry.
Finance Minister also needs to pay heed towards demands of e-commerce industry which has witnessed a phenomenally high growth in the last 3 years, making it one of the fastest growing sectors. Retail players have time and again emphasised the need for foreign capital, expertise and knowledge in inventory-based models that will take e-commerce industry to another level altogether. Further, Finance Minister should focus on improvement in technology to ensure that e-commerce continues its growth trajectory.
The right pushes given to retail and e-commerce industry would also fuel manufacturing industry and promote Prime Minister's ambition of "Make in India", increase consumption, thereby, stimulating economy in the long run. There is not an iota of doubt that Finance Minister has an incredibly challenging task to stand up to the expectations of various stakeholders.
Listed below are some other major, long hauled industry expectations and recommendations from the Budget 2015.
Disclaimer: The opinions expressed within this article are the personal opinions of the author. NDTV is not responsible for the accuracy, completeness, suitability, or validity of any information on this article. All information is provided on an as-is basis. The information, facts or opinions appearing in the article do not reflect the views of NDTV and NDTV does not assume any responsibility or liability for the same.
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