'Budget should boost domestic manufacturing in sectors'

Budget 2021 | Expect govt to boost domestic manufacturing, says Finolex chief

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By Prakash Chhabria

The year 2020 has been an extremely stimulating year sparked by the pandemic Covid-19 and has impacted the Indian economy at large. The focus majorly on attracting global manufacturers/companies to further position India as a manufacturing hub is good. More important we truly hope from the upcoming Budget boosts domestic manufacturing across sectors, for a self-reliant economy.

We look forward to announcements that will lay emphasis on the progress of the overall agriculture economy. Also, we strongly believe that the government’s objective to double farmer’s income and improve piped water coverage by 2022 is most likely to strengthen both plumbing and agriculture pipe demand in the near future.

The flagship government scheme, Nal se Jal scheme appears to be a major driver of plumbing pipe demand. We are certain that appropriate budgetary provisions towards the entire agricultural value chain to increase productivity and reduce post-harvest losses, while ensuring adequate recognition for the farmers will create a sense balance in the economy.

(The author is Chairman, Finolex Industries Limited)