Budgetary boost to realty sector will benefit Godrej Properties: Adi Godrej

I think the economy should be given more stimulus as it is facing some challenges, says Adi Godrej, chairman, Godrej Group. In a candid chat with Anurag Shah, Godrej said monsoon is moving at a good pace and it will be beneficial for the rural growth.

Union Budget has been announced. What is your view on it? Do you think the announcements will give a boost to the rural and overall consumption?

I clearly think that rural consumption will show a slight increase while urban consumption will take some time. As they have announced a growth of 7% for the ongoing year, it will subsequently rise to 8% in the next five years, and I think this is achievable. Some good announcements related to real estate have been made and Godrej Properties will benefit from those. Rural consumption will provide good growth to Godrej consumer products and Godrej Agrovet.

What better measures should be taken to prop up the economy?

I think the economy should be given more stimulus as it is required now. We'll observe what happens in the following months as the government is in its initial days. However, a Budget is not required to provide a stimulus.

As you know, we are on the track of becoming a $5 trillion-dollar economy. Do you think that government steps are positive in that direction?

It is moving in the right direction. Several good long-term announcements have made in this Budget speech.

How the budgetary announcements will benefit your business, especially Godrej Properties?

Godrej Properties will benefit as soon as the Budget is implemented.

What measures are necessary to increase rural demand? Do you think the panning out of monsoon will fade away any stress?

Monsoon is moving at a good pace. The monsoon predictions are quite good. I think this will be beneficial for rural growth.

Do you think the target of a 7% growth is achievable with the steps that have been undertaken?

I do think that a 7% growth will be achieved. On the same hand, the projected 8% growth for the next five years is also possible.

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