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Agriculture focused Budget, Govind Shrikhande

01
Mar '07
Here's the quote on Budget 07-08 from Govind Shrikhande, Customer Care Associate and CEO, Shoppers' Stop Limited:

“This is definitely an Agriculture Focused Budget, with focus on Agriculture Cultivation, Seed Improvement, Irrigation. These measures should definitely result in Increasing Agricultural Productivity & availability in the long term, thereby impacting Inflation.

It is also showing a Marked Improvement in outlay on Education, Health, Rural Employment & Rural Insurance for poor. Along with the Agriculture Initiative, this should definitely boost the economy of Rural India.

On the Consumer Side, the reduction in Peak Customs Duty, CST, duty on Gems & Jewellery should have some impact on Retail Prices Marginally. The Dividend Distribution Tax Increase & Education Tax Increase will Further Reduce Corporate Profitability. MAT on IT Companies will also impact profitability.

For the Retail Industry there are No Positive Signals. In fact Service Tax on Rentals, would further impact the Occupation Cost. There is no announcement on FDI, Octroi, Input Costs Reduction for VAT. With Increase in Cement Prices, Construction Cost will go up Further.

The Finance Minister also made a Comment that the Industry should be left alone. He has exactly done that!!!”

Shopper's Stop Limited


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