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Feb, 02 2017

​Budget 2017: Government's focus on agricultural sector likely to benefit FMCG stocks

FMCG stocks such as Emami rose nearly 4 per cent, followed by ITC, Marico, Colgate-Palmolive, P&G rose nearly 1 per cent.

The finance minster in Budget 2017 has increased farm credit target by Rs 1 lakh crore to Rs 10 lakh crore in Budget 2017-18 in order to increase credit flow in the agriculture sector.

In the current fiscal year, the government's agriculture credit target is Rs 9 lakh crore.

Allocation to the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) from Rs 38,500 crore in FT17BE to Rs 48000 crore in FY18BE is likely to boost rural employment.

Additional money in the hands of people will give boost consumption and will revive demand. Sectors that will benefit from increased spending by the government or on a revival in rural consumption include consumer staples, two wheelers, housing finance companies, and FMCG stocks.

With a good monsoon this year, rural economy was expected to do well. But, with additional spending by the government in the rural areas rural economy will get additional support.

The total allocation for rural, agricultural and allied sectors for 2017-18 at a record Rs 1.87 crore, it is up by 24 per cent.

FMCG stocks such as Emami rose nearly 4 per cent, followed by ITC, Marico, Colgate-Palmolive, P&G rose nearly 1 per cent.

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