50% RESPONDENTS IN A DELOITTE SURVEY STRESSED ON DEMAND REVIVAL HalfofIndiaIncpinshopesonUnionBudget

About 50 per cent of the industry respondents feel that the upcoming Union Budget will revive their business, while a vast majority are optimistic about economic recovery and demand growth, a Deloitte survey said on Friday.

While some respondents also feel that raising the tax exemption limit for individuals will boost private consumption and investment, about 50 per cent highlighted demand revival as one of the major working areas. "Movement restrictions, and financial and health anxiety amongst consumers have affected consumption. High precautionary savings may keep demand below pre-COVID-19 levels for a while. Some respondents also feel that raising the tax exemption limit for individuals will boost private consumption and investment," it said.

The online Deloitte survey titled - Would Union Budget 2021 accelerate the industry's recovery? - posed a set of about 12 questions, including on economic revival and ease of doing business, to senior professionals across industries.