Have the sops announced by the finance minister in the Union Budget really trickled down to consumers? Not really, if the exemptions and cuts in excise duties in the processed foods category and subsequent price cuts by food companies are any indication.

While co-operatives and smaller firms like Amul and processed foods maker MTR Foods have taken the lead in passing on the benefits to the consumers, FMCG majors are yet to pass on the benefit. FMCG analysts opine that the government’s intention to make food processing a priority sector will by and large be defeated by the biggies if they don’t cut the prices.

Major players in the foods category such as ITC, HLL, Pepsi and Nestle have not announced any price cuts so far.

When contacted, an HLL spokesperson refused to comment, so did the ITC Foods division. A Nestle spokesperson said: ‘‘We are assessing the impact of both the changed excise duties as well as the increased commodity and other input costs to rationalise prices’’.

A Pepsico spokesperson said that there won’t be any price cut.