Budget 2015: Few reasons to cheer for retail, FMCG sectors

Apart from announcing a fund for a jobs scheme and encouraging cashless transactions, the Budget has largely ignored these sectors.

Arpita Mukherjee        Last Updated: March 2, 2015  | 10:40 IST
Few reasons to cheer for retail, FMCG sectors

The Budget did not have much for the retail, e-commerce or the consumer goods sectors. Apart from announcing a fund for a jobs scheme and encouraging cashless transactions, the Budget has largely ignored these sectors.

HITS:

  1. Allocation of Rs 1,000 crore to create a Self-Employment and Talent Utilization (SETU) scheme to boost young entrepreneurs.
  2. Replace multiple prior regulatory permissions with pre-existing regulatory mechanism to make clearances easier.
  3. Incentivise credit or debit card transactions, and disincentivise cash transactions to move towards a cashless economy.
  4. New law to curb black money.
  5. Focus on skill development across ministries.
UNION BUDGET 2015:Key highlights | Full speech | Video

 

MISSES:

  1. No focus towards retail as an industry.
  2. No customs duty incentives for most consumer durables and FMCG.
  3. No steps to increase consumption among consumers.
  4. No tax benefits for e-commerce players.
  5. No clarity on GST implementation, apart from the date of implementation, which is April 2016.

UNION BUDGET 2015:Full coverage

 

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