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The Budget announced today is a good one. I find it inclusive, there is a clear emphasis on growth. There is also an attempt to contain the fiscal deficit, which is a positive move. All this should help take up GDP growth. If consumer and investor sentiment improves, consumption and investment should get a fillip. I see a cascading effect with the measures announced today. I also find that the finance minister has attempted to focus on the nitty-gritty, such as clarifying what FII and FDI investments are.
This is certainly a big move for the industry. It clears any confusion in the minds of investors and even those who are seeking investment from abroad. For fast-moving consumer goods, the minister's thrust on rural development, crop diversification and water treatment should go a long way to boost consumption coming out of rural areas.
This is certainly a big boost for companies who have been looking at rural areas for growth in the last few years. The minister has also emphasised on infrastructure development. The setting up of a Mumbai-Bangalore corridor, besides a Mumbai-Delhi one, is a big step in that direction.
This Budget comes at the right time, when growth was beginning to slow.
Adi Godrej
Chairman, Godrej Group
