Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
Budget 2015-02-28

Franchisors accept 2015-16 budget on a happy note

The much-awaited 2015-16 Union Budget, announced by Finance Minister Arun Jaitley, may not have unleashed far-reaching reforms but seems to be a wide-ranging and inclusive budget.

By Senior Copy Editor
Franchisors accept 2015-16 budget on a happy note

Among key concerns of franchisors which they looked forward with bated breath is Goods Service Tax (GST). Though the FM has put an end to the speculation on when GST will finally be a reality but entrepreneurs will have to wait little more. Jaitley has declared that GST will be put in place as a state of art indirect tax system by April 1, 2016.

The NDA government has also focused on entrepreneurship and job creators with the FM promising Rs 1,000 crore corpus for putting a mechanism to facilitate startups. Franchising industry and business associations seemed excited over the budget but feel that more should have been done.

Vaibhav Singhal, MD and CEO, Savemax Wholesale said, “It is a progressive and well-balanced budget that will lay the foundation of major structural changes in the Indian economy in the coming years. The hike in individual tax exemption is a welcome step that will give more money in the hands of people.”

Adding to this, Neelu Singh, COO,, commented, “We are happy with the thrust on domestic and inbound tourism by developing key tourist destinations and sites and making them more tourist-friendly, such as world heritage sites of old Goa, Hampi, Elephanta caves, Leh Palace and Varanasi temple town. It will help draw a lot of heritage and religious tourists. The government has highlighted the desire to incentivise cashless transactions which is a positive development for online sites such as With individual tax payers getting tax benefit up to income of Rs 4.44 lakh, disposable income will increase, which is likely to indirectly induce leisure tourism.”

Welcoming the allocation of Rs 20,000 crore through Micro Units Development Refinance Agency (MUDRA) Bank for the SME sector in the Union Budget, 2015, Dalip Sharma, Director, PHD Chamber of Commerce and industry, said, “This shall not only enhance the much required credit facility to the MSMEs but thereby boost the growth of small businesses and manufacturing units also. The Rs 1000 crore allocation for support of start-ups, shall help harness India’s demographic dividend as well.”

On the other hand, Vinod Kapoor, Business Associate, Titan Company Limited, found it a mixed kind of budget. “Announcements like service tax being raised from 12.3 to 14 percent and quoting of Pan Number made compulsory for transactions more than Rs 1 lakh will have an effect on service sector franchise. For GST, we will have to wait for one more year. However, slew of other measures declared by the FM, will help in curtailing corruption and black money,” he added.

Reacting on the budget, Harkirat Singh, Managing Director, Aero Club (Woodland Shoes), felt, "Overall, the budget seems to be focused and positive and should give us a a healthy ground to grow the business as well as the economy. As a leather footwear brand, we welcome the excise reduction in leather-upper based footwear falling in the MRP bracket of Rs 1000 and above. However, we were anticipating full reduction in-line with the Make-in-India campaign. To add, even the reduction of Corporate Tax is a welcome move though a marginal one. Increase in the service tax is one of the key and probably the only low of this budget. However, the futuristic notification of implementation of GST would negate that but at the current moment, increase in Service Tax is indeed an unwelcome move.”

The franchising industry as a whole wants to get recognised as a separate industry like other major countries of the world. As per recent reports, the Indian franchise industry is estimated at $24 billion with a healthy year-on-year growth of 30 per cent. Its size is estimated to reach $35 billion by 2020.

The industry provides job opportunities to a large pool of unemployed people across the globe, thus those in the trade feel recognising it as a separate industry will give a boost to the business and open more job avenues, which has also been Prime Minister Narendra Modi’s agenda.

gagan nayyar : 06, Jul 2014 at 07:20 PM
would like to open a franchisee at Nakodar,dist Jalandhar.punjab.Kindly guide accordingly
vikas garg : 03, May 2015 at 11:28 AM
would like to open a franchisee at dhuri ,dist sangrur.punjab.Kindly guide accordingly
Vinay kumar : 30, Jun 2015 at 05:32 PM
I would like to open a franchisee at Bettiah, West Champaran Bihar. I have sufficient space please guide me.
Related opportunities
  • Cosmetics & Beauty Product Stores
    About Us: Established in the year 2000, Renewcell Cosmedica LLP formerly..
    Locations looking for expansion Maharashtra
    Establishment year 2000
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Language Schools
    SPOKEN ENGLISH COURSES with exclusive course material from OXFORD UNIVERSITY..
    Locations looking for expansion West bengal
    Establishment year 1950
    Franchising Launch Date 1992
    Investment size Rs. 2lac - 5lac
    Space required 500
    Franchise Outlets 50-100
    Franchise Type Unit
    Headquater Amherst street West bengal
  • Ice creams & Yogurt Parlors
    About Us: Established in 2016, Pop Hop is a unique and..
    Locations looking for expansion Karnataka
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 120
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Cosmetics & Beauty Product Stores
    About Us: Founded in 2002, in India, KAMA Ayurveda is a..
    Locations looking for expansion Delhi
    Establishment year 2002
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts