By Mr Amrinder Singh
As the Covid-19 pandemic resulted in job-losses especially of our rural consumers, we want stimulus packages in the form of low income tax slabs, job-creation and incentives in this budget. Even Nielsen's data shows overall FMCG sales growth fell from 16.2% annually in the September 2018 quarter to 7.3% in the September 2019 quarter, with rural consumption at the slowest in seven years.
The government should also announce some initiatives to strengthen paid-work support programs like MGNREGA and others so that rural people can have some disposable income to spend on their consumption pattern ahead of essentials.
This move will no doubt promote consumerism but also will boost overall GDP growth. More finances should be allocated on building roads, housing and new factories, which will also generate income opportunities for our rural consumers and bridge the gap to have last-mile consumption,”
(The author is Managing Director, Bonn Group of Industries)
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