Pre-budget expectations - Mr. Govind Shrikhande - Customer care Associate - Managing Director - Shoppers Stop Limited

Govind Shrikhande – Customer Care Associate and Managing Director, Shoppers Stop Ltd.

"The maiden budget of the new government must focus on taking tough steps to revive the economy and regain consumer confidence.

A concrete GST announcement with milestones will be great for the industry over all. As of now, GST and Service tax on rent are a huge challenge for retailers. Therefore, once GST implementation takes hold we will be able to set it off against service tax on rent, which will give a boost to the industry. It will be a win-win situation for both consumers & retailers.

We hope that the government continues to provide relief on excise duty on branded apparel. If restored, it will be a major setback for this job-creating industry.

Finally, bolstering consumption ought to be on the agenda. If personal taxes are reduced, it will improve consumer sentiment, lead to more spends and spur growth."

Shares of SHOPPERS STOP LTD. was last trading in BSE at Rs.376 as compared to the previous close of Rs. 377.85. The total number of shares traded during the day was 4352 in over 256 trades.

The stock hit an intraday high of Rs. 382 and intraday low of 370.1. The net turnover during the day was Rs. 1638906.

Source : Equity Bulls

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