Retail in Asia

In Markets

India’s Budget is good news for the retail sector

For Indian retailers, this is a particularly consumer-friendly budget, with increased disposable income for the urban population through reduced direct taxation and increased money supply in the rural population through greater spending on social programmes such as the National Rural Employment Guarantee Act and Bharat Nirman, a programme to build rural infrastructure. There are a number of useful steps taken by Finance Minister Pranab Mukherjee as part of this Budget, including the focus on fiscal prudence and the plan to limit market borrowings, as well as to reduce the domestic public debt.