Union Budget 2024-25: Here are the key challenges in retail sector | Economy & Policy News

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Union Budget 2024-25: Here are the key challenges in retail sector | Economy & Policy News

1 min read Last Updated : Jul 16 2024 | 11:24 PM IST


Key challenges

 


 Only 10% of households with formally employed chief wage earners 


 Muted consumer demand 


 Rising food, fuel, and fertiliser prices have depleted rural purchasing power  


 Weak inter-state migration of labour 


 Digital transformation needs to have zero tolerance on consumer data breaches




 


Industry ask


 Increase direct benefit transfer to generate rural demand


 Faster disbursement of PLI to increase job formalisation


 Easy access of credit for MSMEs to build robust supply chains 


 Create an inter–state migration council to ensure free movement across states 

  Notify details of the digital personal data protection Act transparently


Reforming multi-brand retail to spur investments in retail infra, job formalisation through MSMEs, continued government investment to facilitate commerce and access will be key

 


Ravi Kapoor, Partner & Leader, Retail & Consumer, PwC India 

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First Published: Jul 16 2024 | 11:24 PM IST

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