Budget to boost rural consumption, augment purchasing power: FMCG industry

The Union Budget will help drive consumption, especially from rural areas, with its special focus on agricultural schemes and rural development, FMCG industry leaders said.

Terming the measures announced in the budget "positive , HUL CEO and MD Rohit Jawa said investment in infrastructure will have multi-year effect and help drive consumption.

"The new announcements today, increasing the investment rural development, investment activities supporting urban poor, the schemes for youth, employment, especially skilling, are quite positive, especially for business like ours that serves consumers," said Jawa during an earning calls on Tuesday.

"These investments will have multi-year effect in driving consumers to spend more in consumption, that, in turn, of course drive the economy for its value," he said adding these are right set of announcements and the focus of the budget is mass consumption.

Parle Products Vice President Marketing Mayank Shah said initiatives announced in the budget