 "Union Budget 2024-25: Here are the key challenges in retail sector")
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
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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