Highlights of the Union Budget for 2018-19 presented in the Lok Sabha by Finance Minister Arun Jaitley on Thursday:
– Allocation in food processing ministry doubled to Rs 1,400 crore from Rs 715 crore
– MSMEs sector gets Rs 3,794 crore in the form of capital support and interest subsidy
– Govt to allocate Rs 7,140 crore for textile sector in 2018-19
– With 60 percent of gold demand coming from rural India, the budget’s focus on boosting rural and farm incomes could benefit companies such as Titan Co Ltd., Tribhovandas Bhimji Zaveri Ltd., PC Jeweller Ltd.
– Customs Duty on certain products, such as mobile phones and televisions has been increased, to provide a fillip to ‘Make in India’
– FMCG companies such as Hindustan Unilever Ltd., Britannia Industries Ltd. and Marico Ltd. could benefit as day laborers get jobs and disposable income