The Budget 2020, presented by the Finance Minister on Saturday, would help revive dampened consumer sentiment and put consumption back on track, leading retailers said. Besides, Government’s push towards creation of a strong agriculture infrastructure, and efforts to revive local manufacturing along with micro, small and medium enterprises (MSME) sector and simplify GST, would help many small traders.
“Budget 2020 would lead to creation of a new aspirational India, anchored around agriculture, health and education. This Budget seeks to strengthen grassroots of the economy with its positive push towards creation of a strong agriculture infrastructure, which will give a big push to India’s rural sector,” said Walmart India President and CEO Krish Iyer.
He added, “The rate cuts in the personal income tax rates would increase disposable income in the hands of the Indian middle class which will enhance consumption through improved purchasing power. These two positive budgetary intervention together will drive strong demand growth that drives Indian economy in turn”.