Ador Welding Ltd.
The Budget is focused on agricultural & rural development, with special emphasis on health, education and employment, while boosting growth prospects for MSMEs. Infrastructure development is the common thread in all these focus areas. For a while now, industry has been struggling with lower capacity utilization. Boosting Rural demand appears to be a step in the right direction.
The following measures are expected to boost rural incomes and thereby enhance rural spending:
These are some of the key measures and the Budget appears to be a well-balanced plan to enhance the life of Indian Citizen. However, adhering to the fiscal discipline (Fiscal Deficit projected at 3.3% for 2018-19) will be a challenge as it is subject to the Divestment going through as planned and also subject to Oil price and Forex shocks.
Overall the Budget will give an impetus to core industries like steel, cement and power which will be led by Infrastructure spend. As these core industries have better capacity utilization, there would be further interest in investments on capacity addition which today is few and sparse. The other industry which will grow and should be driving industrial growth is ‘Defence Sector’. Improvement in Rural economy will boost the prospects of automotive and white goods industry.
The growth in core sectors should help the welding industry and as the investment interest in capacity addition rises, demand for welding products will only go up.
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