NEW DELHI : Consumer goods companies are pinning their hopes on schemes directed at reviving farm income, investments in rural infrastructure, and reduction in personal income taxes in the forthcoming budget to boost consumer demand in Asia’s third-largest economy. Earlier this week, market researcher Nielsen said that India’s fast-moving consumer goods (FMCG) industry grew 9.7% in 2019, but rural growth slipped to a multi-year low. “The government should be looking at ways to improve rural income. Historically, for FMCG companies, rural markets, which contribute more than 35% of all FMCG sales, have grown ahead of urban markets. Shah said he is also pitching for relief in personal tax slabs.

Source: Mint January 23, 2020 17:37 UTC