Budget's Emphasis on Agriculture Promises Well for Agrochemicals: Sudhir Shenoy
Mumbai, India: This is one of the least volatile budgets I have seen and does a rational balancing act. Happy to see that the fiscal farsightedness has not been negotiated with the deficit maintained at 3.2 per cent. Overall the Budget seems to be lopsided towards the rural and agriculture sector developments.

From the chemical sector point of view, the announcements relating to agriculture, like easing the credit availability and the Krishi Vigyan labs should add an impetus to the agrochemicals sector. This will help farmers with access to products and technology on improving their yields and towards more sustainable practices.

The budget has no noteworthy interventions on enabling access to feedstock, which is one of the crucial barriers restraining investments into petrochemicals.

It is also disappointing to see that there is not anything on corporate tax except a proposal to cut corporate tax rate for MSMEs. However, the eradication of the foreign investment promotion board, along with the assurance of further liberalisation of the foreign direct investment (FDI) policy would have a positive effect on the sector in the medium term.