Ahmed ElSheikh, President, PepsiCo India:
“The government’s major aims have been to revive economic growth, increase consumption, and stimulate investment to drive post-pandemic prosperity, and the Union Budget 2022 reflects this intent.”
The Union Budget for this year includes a vision for India in the next 100 years.To keep the economy on pace, the government is leading from the front by increasing public sector spending.
Economic development will be accelerated, innovation and entrepreneurship will be stimulated, and living standards will be raised, all while maintaining sustainability at the forefront.
Increased funding for PM Gati Shakti projects for multi-modal connectivity, including 100 new railway logistics hubs, as well as measures such as increasing local oilseed production, extending the deadline for new manufacturing units to start production, and encouraging alternate cropping, will help the FMCG sector grow and strengthen the government’s vision of an Atmanirbhar Bharat.”
Dabur India Ltd Vice-Chairman Mohit Burman:
“Despite the difficult economic environment, our Finance Minister, Ms. Nirmala Sitharaman, has produced a highly progressive and growth-oriented Budget that will undoubtedly rev up the manufacturing engine.”
The Finance Minister has skillfully balanced the fiscal deficit with the prospects for economic growth in this Budget, and it demonstrates the Government’s determination to drive long-term economic growth by increasing capital investment, as well as continuing to focus on infrastructure development and encouraging Atmanirbharta, which has the potential to create 6 million new jobs.
The government’s courageous initiative to focus on increasing capital expenditure and investments to boost the economy is the most important takeaway for me from this year’s Budget.
It’s also encouraging to see the government’s sustained focus on Bharat, or rural India, with Rs 2.37 lakh crore in MSP direct payments to wheat and paddy farmers, as well as a greater emphasis on financial inclusion by connecting all 1.5 lakh post offices to the core banking system.
Farmers will have more spare cash as a result of the increased MSP allocation, which will stimulate consumerism and consumption of branded daily-use products. The emphasis on infrastructure development and rural connection will also help businesses expand their rural presence and capitalize on rising demand.
This would go a long way toward increasing FMCG product penetration and consumption in the countryside.Rural demand has been increasing ahead of urban demand at Dabur, and the announcements in this year’s Budget are expected to accelerate this expansion even further.
To keep up with this expansion, Dabur has invested in growing its rural footprint, which now includes over 85,000 communities.
Financial assistance to farmers interested in pursuing agro-forestry is also a positive step forward since it will not only protect but also perpetuate our country’s biodiversity.
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