While consumption demand picked up and is seen getting stronger in the coming months in the backdrop of the rate cuts under GST 2.0, companies’ sales and revenue growth, especially for fast-moving consumer goods and price-sensitive consumer durables, are likely to see a dip in the July-September quarter due to the lukewarm offtake and transition-linked issues in the run-up to the September 22 rollout. FMCG major Hindustan Unilever has already flagged the risk of “near flat to low-single digit” consolidated business growth in Q2, which it sees spilling over till October as well.

Going ahead, however, companies and experts see this one-off, transitory impact waning, with consumption expected to pick up significantly with a rise in disposable incomes coming from the cumulative impact of the

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