Reduced tax burden and financial assistance for quick service restaurants is on the Budget 2023 expectations menu for Good Flippin Burgers cofounder Viren D’Silva
By Indiaretailing Bureau
As the Quick Service Restaurant (QSR) industry continues to grow in India, the government can take several steps to support and promote this sector.
“One of the key areas that the government can focus on is reducing the overall tax burden on QSRs. This can be achieved by introducing tax exemptions or reducing the GST rate for this sector. This will help to lower the operational costs for QSR restaurants, making it easier for them to sustain their business and expand,” Good Flippin Burgers cofounder Viren D’Silva said.
Providing financial assistance to QSRs is another area that he feels the government should focus on.
“This can be done through grants, subsidies, and low-interest loans, especially for homegrown brands. This will help to provide the necessary capital for QSR restaurants to expand their operations, purchase new equipment, and hire more employees,” he added.
A third area of focus according to him is training. The government can focus on providing training and education to QSR employees, he feels. According to him this will help improve the quality of service QSR restaurants offer and attract more customers.
“Overall, the Union Budget 2023 can play a critical role in supporting the QSR sector in India. By introducing policies and programs that focus on reducing the tax burden, providing financial assistance, promoting the sector, and providing training to employees, the government can help to ensure the continued growth and success of QSRs in India,” he concluded.