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Kamal Nandi, President-CEAMA and Business Head & Executive Vice President-Godrej Appliances: The interim budget for 2019-20 has focused on farmers and the middle class and should boost consumption. Full tax rebate for income up to Rs 6.5 lakh (including investment under 80C) will boost sentiments and we foresee a rise in demand for the mass segment of consumer durable goods.
Rural electrification, which aims to touch every household by March 2019, coupled with infrastructural push via Gram Sadak Yojana and the rural support schemes will serve as a catalyst in improving the demand for consumer electronics and appliances. Category penetration levels should therefore improve faster.
Also, governments continued attention towards skilling will help improve the quality and quantity of skilled labour critical to industrial growth.
HEADLINES OF THE DAY
From middle class to labourers, from farmers growth to the development of businessmen, from manufacturing to MSME sector, from growth of the economy to development of New India, everyone has been taken care of in this interim budget: Prime Minister Narendra Modi
This budget will directly benefit as many as 12 crore farmers and 3 crore taxpayers: PM Modi.
The crucial resistance for Nifty spot is now seen at 10980 and above this 11120 Support for the immediate term is now placed at 10670 next support will be 10530.
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