The Hindu Business Line : Coloured bright

GDP growth of 8.1 per cent, manufacturing sector growing by 9.6 per cent and agriculture by 2.3 per cent are strong indicators that India is on the growth path and looking vibrant. The Government's continued thrust in the Budget on improving infrastructure, raising investment in the power sector, generating employment in the rural areas, improving and upgrading educational institutions will strengthen the economy.

With the Finance Minister optimistic that the car industry will seize the opportunity to make India a hub for the manufacture of small and fuel-efficient cars, the automotive paints segment can also look at a buoyant growth in the coming fiscal year.

The drop in the Customs duty to 12.5 per cent is welcome.And the consumer too can look forward for some benefits on this count, particularly in the products where the imported raw material component is high. Ideally, a distinction should have been brought in the import of raw materials and finished goods

With infrastructure in focus, we can look at a growth in housing and development in some time to come. This means good news to all the connected sectors too. Even the benefits of income-tax on the interest payment of the housing loans has been retained and will thus benefit the housing sector, including the paints sector.

Directional guidelines set for GST is a welcome step. Overall, the Budget is growth oriented and I will put it, on a scale of 1-10, at 7. India is on the right path of growth and with the focused direction will see dramatic results coming and making it among the world's leading economies

(The author is Managing Director, Goodlass Nerolac Paints Limited.)