Chennai, India: March 14, 2016: India's
Federal Budget for the 2016 fiscal though focused more on farm sector and gave
a balanced outlook to other industries, stakeholders of Asia's fast-growing retail
sector believe that the Budget did not offer any direct proposal to boost the
sentiments of the business community but the sops offered to other sectors will
have their implications on the retail sector’s long-term growth.
India’s retail
sector, which is the third largest employment generator after agriculture and
construction industry, adds considerable momentum to the country’s GDP
year-on-year. According to industry sources, though there are no big-ticket
announcements in the budget to add fuel to the retail sector’s growth, certain
indirect measures proposed by the Finance Minister will improve the buying
sentiments among the middle-class, and add up to the growth of retail and
allied sectors.
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