The Budget has been, on the whole, very encouraging. It has, by virtue of its various provisions, and has effectively increased the purchasing power in the hands of the people which would definitely be a positive factor for conspicuous consumption.The abolition of excise on branded jewellery will result in higher margins as the cost was absorbed by us since the branded jewellery was sold at fixed MRP on a pan-India basis.
Also, extension of the tax exemption by one year is a welcome step which enables us to plan one more year ahead. All in all, the direct and indirect benefits of all the factors mentioned above can be very encouraging and improve the bottom-line.
