Implications of Union Budget on Processed Food Industry

摘要

Food Processing industry got a special mention in the budget speech of the Finance Minister although nothing significant in direct form has been given to this sector. In spite of that, I would like to say that this budget will fuel growth of the processed food industry as well. Readers will recollect that I wrote a column on the pre budget proposals of mine where I suggested that focus should be on infrastructure development, rural integration, education and income generation activities which help todevelop the market as such in one hand and also help industry to upgrade to go up in value chain for increased competitiveness on the other hand rather than giving small dose of tax reduction for certain category of processed foods which does not go a long way to lift the industry from its current status. I am happy to see that the last budget proposal has got many initiatives in those direction which will have much larger impact on the over all growth of the business.