Union Budget 2022-23 fails to support the retail sector: Kumar Rajagoplan, Retailers Association of India (RAI)

04 February 2022, Mumbai:

Kumar Rajagoplan, CEO, Retailers Association of India has expressed his disappointment over Union Budget 2022-23, says it fails to support the retail sector suffering on account of constant lockdowns and restrictions.

Rajagopalan also criticizes the Budget for not giving any relief to individual income taxpayers to propel consumption, which is missing. However, he appreciates the non-imposition of additional taxes that will help the industry maintain status quo.

The emphasis on ‘Ease of Doing Business 2.0’ will bring better policy and regulatory environment for retail, Rajagopalan adds.

The initiatives around urban planning, rural development, infrastructure development, and logistics and transportation will ease the movement of people and resources and facilitate faster distribution for retail, he further says.

He also, welcomed the extension of the Emergency Credit Line Guarantee Scheme (ECLGS) for the hospitality sector up to March 2023 and urged it to be extended to other forms of retail also.

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