“The non-essential retail industry has been hit hard due to the current lockdown. The rate cut will help in reviving the overall economy, which we hope will have a positive effect on the sector too. Rising inflation has hampered consumer demand as anticipated and private consumption has dipped. The expected fall in inflation in the coming quarters is a ray of hope. We are hopeful the announcement will help uplift the buyer sentiment to some extent and our industry can start taking baby steps towards revival.”