Budget 2024-2025: What's in it for Retail?

An overview of all the retail ecosystem-related measures in the Budget 2024-2025 revealed by Finance Minister Nirmala Sitharaman in her 7th budget speech.

Being the first by the Modi government in its third term, Budget 20242025 was one of the most anticipated. There were a lot of expectations from India Inc. and the public at large from this year's full budget.

And while the common man's reaction in the live chats on social media platforms bordered on disappointment as Finance Minister Niramala Sitharaman read through the document, industry captions representing various factions lauded some of the measures.

"The government has tried to strike a balance between populist and policy measures. RAI appreciates the government's focus on empowering the middle class and rural population. Initiatives such as monetary support for farmers, higher exemption limits in personal income tax, and increased standard deductions will provide higher disposable income, leading to increased spending. We believe this will stimulate consumption growth, thereby boosting the overall economy," said Kumar Rajagopalan, CEO, Retailers Association of India.

The apex body's colleague from the northeast echoed his sentiment.

"Enhanced and cost-effective logistics and supply chain infrastructure, easy credit and financial support to manufacturers, traders, and suppliers, schemes and incentives to retailers for generating employment, and retail-specific labour laws were some of the announcements that related to retail. These steps would make the whole chain of retail fast, efficient and the return on capital will be fast," said Vikram Bothra, Director, Chandan Retail and Chairman of RAI's North-East India chapter.

MOHIT GOEL, MANAGING DIRECTOR, OMAXE GROUP