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While we expect the
Budget to address macro issues that would impact demand generation, the industry
also needs administrative & tax reforms in various areas such as movement of
goods and double taxation. Hopefully, the government will retain the sops
announced last year to cushion the impact of the global economic downturn.
We also wish tax concessions, which we received last year, stay through the new
year as we attempt to beat the growth rates reached before the slowdown hit the
economy.
We also hope this year’s Budget will finally implement GST (Goods and Service
Tax). GST can bring about a considerable reduction in prices of products as it
will do away with the multiple taxes on products and services. It will come as a
huge relief to the common man.
We expect the government to deepen its focus on the rural economy with greater
fiscal incentives for rural employment. These steps would go a long way in
giving the rural economy and demand a great boost.
We expect that policies of the government should be such that they result in
higher disposable incomes in the hands of customers so that they loosen their
purse strings and it results in higher sales.
Source:
Daily News & Analysis, India, dated
13/02/2010
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