Pankaj Bhardwaj, vice president and general manager – India & SAARC, label & graphic materials, Avery Dennison comments about Union Budget 2020: Union budget 2020 has been like a tight-roped balancing act by union finance minister. With limited room to maneuver within fiscal boundaries, the budget does fine balancing between keeping long term direction intact while giving incremental impetus for the here and now challenges. Infrastructure spending and steps to improve rural income through social welfare schemes shall go a long way in improving ease of living.
At the same time, steps taken on custom duties, setting up end-to-end clearing system and abolishment of DDT shall help improve FDI and ‘Make In India’ initiative. It was heartening to see allocation for promotion of new age technologies like quantum computing and setting up data center parks. In the absence of any big ticket reforms, the success depends on execution. Clearly, successful execution would create better demand conditions, which in turn will favorably impact the print and packaging industry.