Commenting on Union Budget 2010-11, DPS Kohli, Chairman, Koutons Retail India, said, ”Overall, it has been a mixed budget for us. New tax slabs and rates have been introduced which would offer relief to 60% of tax payers providing them with greater disposable income. This would provide the necessary boost to consumer spending in the country, a pre requisite to unleash the true growth momentum of the retail sector. Also, reduction of surcharge on domestic companies that the finance minister has announced today is sure to accelerate the expansion plans for the retail players at home. However, industry status continues to delude the retail sector. This is a disappointment since this is the first step in truly reforming the sector and organizing this highly unorganized sector. The hike in the excise duty is also not favorable news for us since this might directly affect the quality of production.”

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