Sunil Duggal, CEO of Dabur India said that the demand is robust, so the company is not looking at any pricing changes at the moment. He feels that excise duty hikes will not impact Dabur. He is expecting speedy implementation of GST. Thrust on rural growth in the budget will aid FMCG sector, he added.In the forthcoming union budget, rollback of stimulus is a key factor to watch. Duty reliefs/tax cuts will continue. Dabur India is expecting partial rollback of excise cuts. Government cut excise duty at 8% from 14% (in 2 tranches). It will be dampener if the company choose not to pass it on.Thrust on infra spending, particularly undeveloped areas, emphasis on employment generation schemes and tax exemptions in personal income is what FMCG space is expecting from the budget 2010.Kotak Securities has initiated coverage on Dabur India with buy recommendation with target price of Rs 200. It sees EPS CAGR of 26% (FY2009-12E). Factors to watch are new product launches in Skincare, likely of Brand Innovations and scaling-up of Uveda, Femcare brands. Kotak Securities expect 15% upside in the stock price by March-2011E.