Comforting Consumers And Crafting A Roadmap For Economic Revival
Nielsen View Of The Union Budget 2014
The Union budget attempted to balance prudence and optimism with inclusiveness and good intentions. As the Honourable Finance Minister laid out his maiden budget, industry and markets have reacted kindly, if a little watchfully. The budget document is replete with good intentions ranging from infrastructure impetus, to incentives for manufacturing, to a greater degree of income tax exemptions for consumers.
Based on our analysis of consumer sentiment linked to the timing of elections and their correlation to growth in the off take of consumer goods we foresee a positive outlook for businesses. With the current budget offering the economy neither steroids nor strong medicine at this point, the promise of holistic healing should mean a gradual improvement in consumer sectors that will have to depend more on marketing savvy and consumer insight than budgetary stimulus. At the center of all of this is the Indian consumer, whose reaction rather the Finance Minister’s decisions will determine the fate of business and brands around the country.
At Nielsen, we take a look at the key sectors we believe will drive more change than others and will continue to track this and interpret it for the country’s leading businesses and brands.
Download the file for details on the budget impact on key sectors.