Budget 2019: Manufacturing Industry Outlook

Increase in disposable income will spur demand

The overall budget is very positive for the middle class, as the Government has put in more disposable income in the hands of the middle class of the country. This is much needed for a long time. On the other hand, there is a good balancing act done to the agriculture sector, which would bring in much need relief to farmers of the country.

Increase in disposable income in the hands of both the middle class and rural India is definitely going to spur demand for consumer durables goods like televisions, air conditioners and washing machines. This move is definitely positive for us.

The government should have worked on selective Free Trade Agreements with countries like Korea, Thailand, Vietnam and Malaysia for agricultural products rather than encouraging the duty-free import of consumer durables from these countries. The recent move of the Government of India to reduce customs duty on goods imported from Korea from 6.9 to 6.3 percent and from Vietnam, Thailand, Malaysia and Sri Lanka to zero is detrimental to Make in India initiative of the company. On one side the Government of India has been promoting make in India and on the other side entering FTA’s with these countries, which will not encourage the growth of manufacturing in India.
Vijay Mansukhani, Mirc Electronics Ltd (Onida)

Budget supports rapid development of the economy

The interim budget for 2019-20 seems to be a balanced budget with support to sectors like agriculture and infrastructure for holistic development of the Nation. Railways, roadways, airways along the rail, road linkages, connectivity infrastructure, and 99 city Smart Cities Plan excites us. Also, the Rs.50 lakh crore investment plan for improvement and proper completion of the ongoing and upcoming infrastructure projects is a welcome step, we are hopeful that the budget supports the rapid development of the economy.
Rajeev Sharma, Mitsubishi Electric India Pvt. Ltd.NewsBarons

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