“FM has proposed steps in the right direction in the budget to boost investment led consumption which will positively impact the domestic logistics industry. The Finance Minister has rightly pointed out the need for the manufacturing sector to grow in double digits in order for India to become a $5 trillion economy. this requires supply chain to remain globally competitive.
The sharp increase in capital expenditure, if incurred under right heads, will boost domestic consumption. Setting up faceless tax dispute resolution teams will ensure efficiency and transparency. Fund infusion of Rs 15,700 crore for MSME, increasing import duty on products will help promote manufacturing that will further act as key enablers for growth for the economy.
The investment outlay for highway construction, building more airports in tier 2 and tier 3 cities will not only drive consumption further but also reduce turnaround time for logistics companies. Such infrastructure development will facilitate the development of multimodal logistics systems. Vehicle scrappage policy announced in the budget will improve efficiency of the warehousing and moveable assets involved in the logistics operations.”
