Govt should allocate more funds in rural areas

Budget 2020: Govt should allocate more funds in rural areas

By Ullas Kamath

The government has been taking multiple steps to address and resolve the tensions pertaining to trade and consumption slump in the country.  Last year’s budget accentuated upon the need for heavy investment in infrastructure, digital economy and job creation in small and medium firms. We expect that the upcoming budget will provide substantial weightage in the rural spend so as to provide the rural population with an opportunity to increase and improve their spending power. Providing the consumers the ability to spend more will give an impetus for the country’s  economy.

One of the tactics could be by increasing the MSPs and push in the infrastructure budgets for the rural India. FMCG sector is the first to recover and grow in such slowing economies. Government’s initiatives towards substantial budget investments will help the growth and development of Indian economy. We hope to see positive steps towards lowering the tax slabs for individuals as it will further result in boosting consumption of our country. Overall, we expect the upcoming budget to have an overview of the entire Indian economy and heighten the consumer confidence.

(Author is Joint Managing Director, Jyothy Labs Limited)