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Budget 2018: FMCG firms urge Modi govt to spend more on rural sector
FMCG industry wants Budget 2018 to focus on rural wages, job creation.
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New Delhi: Fast-moving consumer goods (FMCG) companies have urged the Modi government to spend more on rural areas in the upcoming Budget 2018. They have asked the Centre to increase wages, give waiver in personal income tax for rural people, and, also to increase infrastructure facilities to deliver goods in the far-flung areas.
FMCG firms are satisfied with the Centre for the successful implementation of GST. For Budget 2018, they want from the Modi government to give concession in personal income tax to increase their demand. Apart from asking Centre to give concession in income tax, they have demanded more money to be allocated for employment-generating schemes in the rural sector. To increase agricultural productivity they asked farm subsidies to be properly transported to the farmers.
There are other demands of FMCG firms from the Modi government like they don't want the tax on healthy food products for the betterment of people's health. They asked for tax exemption for the amount spent on innovation and research, and to increase the income of the farmers, the demand concession should be given to food processing companies.
In recent months, after the implementation of GST, the sales of FMCG firms have improved. They want Modi government to increase there consumption by giving the concession, as the economy is in good shape.
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