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Budget fails to satisfy retail sector - Chogori India
01 Mar '08
1 min read
Mr Hemant Sachdev, Managing Director, Chogori India, expressed his disappointment with the Union Budget 2008-09, when Fibre2fashion asked him about the expectations he had.
Chogori India, deals in footwear, had anticipated that retail sector will get the status of an industry, but nothing has been done in this regards.
Mr Sachdev had even expected that service tax would get reasonable but it has just been kept 12.6 percent, as it was. There has been no decrease in peak custom duty.
Managing Director, Chogori India further asserted,"This budget focuses more on hotel, education and banking industry. So, as far as retail industry is concerned, it can be called an unsatisfactory budget."
Chogori India, deals in footwear, had anticipated that retail sector will get the status of an industry, but nothing has been done in this regards.
Mr Sachdev had even expected that service tax would get reasonable but it has just been kept 12.6 percent, as it was. There has been no decrease in peak custom duty.
Managing Director, Chogori India further asserted,"This budget focuses more on hotel, education and banking industry. So, as far as retail industry is concerned, it can be called an unsatisfactory budget."
Fibre2fashion News Desk - India
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