Union Budget 2020: Long pending tax reforms can boost disposable household income

By Mayank Shah

We hope that the upcoming Union Budget recognises the numerous opportunities that lie within the FMCG sector and facilitates the empowerment of the sector.

With most of 2019 spent in battling for growth, the FMCG industry is anticipating revival in consumer demand on the back of a well defined budget.

On the lines of the recent cut in corporate tax rates, we are expecting that the taxpayers may get some relief in direct taxation. The long pending reforms in the direct tax code can also boost household disposable income and thereby the consumption.

(Mayank Shah is Category Head at Parle Products and Vice President of Biscuit Manufacturers Welfare Association)