Budget reaction: Furniture company

4 Feb 2022 , 07:52 PM

“The Budget for FY 2023 holds a lot of promises for the economy. As a furniture company, we are expecting better operational opportunities due to the emphasis on logistics sector through PM Gati Shakti Initiative. The announcement of Indian Railways developing new products and efficient logistics services will provide a big boost for small and medium enterprises. It will further have a positive impact on the furniture industry and help the manufacturers provide price benefits to the end users. The creation of infrastructure is the best way to reduce costs and introduce competitiveness in the economy to serve both the domestic market and exports. The initiative of spurring investments from the private sector by taking the lead through government investments of Rs. 7.5 lakh Cr. is laudable. The support for domestic manufacturing of capital equipment by doing away with duty exemptions is also a welcome step.”

“The economy is on a slow recovery path. This budget seeks to accelerate the growth through investments.”

The author of this article is Mr. Anil Mathur, Chief Operating Officer, Godrej Interio

The views and opinions expressed are not of IIFL Securities, indiainfoline.com