Favourable for consumer durable industry

Kamal Nandi, Business Head and EVP, Godrej Appliances: ''The Union Budget 2018 gives enhanced focus towards agricultural sector. This in line with the government's Niti Ayog initiative that aims to double the farmer's income by 2022..We believe the announcements to raise MSP to 1.5 times of the cost of farm produce will help in increase of income available for discretionary spends and hence boosting demand of consumer durables in India. We expect a spur in demand particularly from the states that are majorly dependent on agriculture like Punjab, Haryana, Bihar, Maharashtra, West Bengal, Uttar Pradesh, Andhra Pradesh, Telangana, Madhya Pradesh, etc.

Additionally, the declaration to provide free electricity to four crore poor households under Saubhagya Yojana will result in a direct and positive impact for consumer durables sector. Furthermore, the announcement of the Amrut Program to focus on water supply to all households in 500 cities may have a positive impact on the adoption of washing machines in these areas. We hope to see a rise in penetration on the back of these initiatives.''