FROM THE C-SUITE. Focus on growth will help consumer goods

The Union Budget clearly spells out a long-term vision for economic growth for this country, a scenario where we have access to better infrastructure, amenities, skill development and jobs. The Budget’s focus on broad-based growth will benefit the FMCG sector, both in urban and rural markets. Along with increased investments in NREGA and social security, a firm roadmap for reduction of corporate taxes, ease of doing business and GST are very reassuring and will pave the way forlong-term and balanced growth that augurs well for the industry.

The focus on improving predictability and transparency was clearly visible. The increased focus on agriculture and manufacturing will provide a fillip to ‘real’ growth of the economy. In his speech, the Finance Minister has acknowledged that the well-intentioned schemes and policies of the previous governments will be continued; however, he added that the Government will ensure that the monies are well-spent.

This Budget will enable urban consumption to increase while opening doors for a sustained rural consumption in the long term. From the FMCG industry’s perspective ‘growth’ is of utmost important than any other factor.

A Budget like this has not only demonstrated greater commitment but fostered long-term benefit for the country. On the whole, this Budget makes an honest attempt at realising the dream of a better India by taking a broad-based and long-term approach.

Saugata Gupta is MD & CEO, Marico Ltd

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