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First quarter bodes well for Visaka Industries
23 Jul '09
4 min read
F2F: Though the budget recently announced has failed to please the industry players; still, we would like to know from you if it has/will benefit/benefited your company anyway?
Mr Vallinath: The huge allocations for the rural development is expected to translate into good demand or our products. We sell predominantly in the rural markets and hence any improvement or purchasing power of rural population is expected to help improve the demand for our products. The budget perse is not bad in the given circumstances. In my opinion, it couldn't have been better in the current circumstances.If fiscal deficit is the issue, even advanced countries like the US, UK etc have projected fiscal deficits of 13 to 14%. Atleast the Indian budget doesn't plan to buy toxic assets like in the US and other countries. We are only investing in development, this time the emphasis is on rural India since 60% of the population is represented there.I think a budget should not be evaluated from the point of view of the benefit or comfort of the industries.
Click here to view the Q1 JUNE(2009-10)
Mr Vallinath: The huge allocations for the rural development is expected to translate into good demand or our products. We sell predominantly in the rural markets and hence any improvement or purchasing power of rural population is expected to help improve the demand for our products. The budget perse is not bad in the given circumstances. In my opinion, it couldn't have been better in the current circumstances.If fiscal deficit is the issue, even advanced countries like the US, UK etc have projected fiscal deficits of 13 to 14%. Atleast the Indian budget doesn't plan to buy toxic assets like in the US and other countries. We are only investing in development, this time the emphasis is on rural India since 60% of the population is represented there.I think a budget should not be evaluated from the point of view of the benefit or comfort of the industries.
Click here to view the Q1 JUNE(2009-10)
Visaka Industries Ltd
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