This union budget has further showcased the government’s intent to provide an equal opportunity to small and medium businesses. Its initiatives like increasing the sourcing to 25% from SMEs by Government enterprises, doubling the exemption from GST from INR 20 to INR 40 lacs and 2% interest rebate on incremental loan of INR 1 Crore to GST-registered SME units will continue to benefit this business segment.
The thrust on Digital India and massive penetration of Mobile internet is propelling the consumers to not only visit the e-commerce platforms thereby increasing the top lines of consumer product companies but also in enhancing the awareness about the product innovation which could meet their needs.
Lesser income tax burden is one of the most important announcements impacting the large strata of the country thereby making higher available money on consumer products.
Mr. Rahul Paith
Chief Operating Officer