Heatwave conditions, particularly in the North, are significantly impacting the afternoon economy, affecting sales and footfalls between 12 noon and 4 pm. The scorching temperatures are leading to a decline in the availability of delivery riders, pushcart vendors, and sales workers. Businesses are experiencing disruptions in routine deliveries and working hours, prompting changes in operating hours and strategies to cope with the heat. While business activity is dampened in the afternoon, there is some compensation during the evening as people prefer to stay indoors and order in.
Salesmen Face Ruin as JioMart Partner Targets Mom-and-Pop Stores For eight straight days, household goods salesman Vipresh Shah has failed to sell a single pack of Dettol soap to the storekeepers who have been buying from him ever since he took over his family business as a teenager, 14 years ago.Shah is an official distributor
Budget 2024: The fiscal deficit target of 5.3% will be set by the government in FY25, keeping in view the fiscal consolidation path till FY26, as it normalises capital spending and refrains from any major announcements in the interim budget before the general elections, Icra and Barclays economists have said. ICRA expects the fiscal deficit target for FY25 to be set at 5.3% of GDP, midway through the expected print of 6.0% for FY2024 and the medium-term target of sub-4.5% by FY26.
The interim budget for FY25, which will be presented on February 1 after the Lok Sabha elections, is likely to stay on the fiscal course-correction glide path and avoid populist spending. However, the retail industry s message of slowing consumption cannot be ignored. India s top retailers have slowed down their store expansion this fiscal year due to a sharper focus on profitability and lower-than-expected consumption levels. Retail sales have also been affected, with a growth of only 7% in October and November 2023 compared to the same period in 2022. The budget should focus on generating demand and spurring consumption by offering tax benefits and relief to individual taxpayers.