“The interim budget presents a positive outlook, showcasing significant strides in managing the fiscal deficit. For the fiscal year 2024, the deficit stands commendably at 5.8%, comfortably aligning with the budget, with a targeted reduction to 4.5% by fiscal year 2026.
We welcome the government’s visionary approach towards infrastructure development as outlined in the Interim Budget 2024-25. In terms of the logistics sector, there are two notable highlights. Firstly, the emphasis on infrastructure development directly enhances logistical efficiency. The budget allocates a substantial increase of 11.1% in infrastructure spending compared to the previous year, totaling INR 11.11 Lakh Crore. The commitment to enhancing our country’s logistics and transportation sector is evident through initiatives like the implementation of major railway corridor programs under PM Gati Shakti. This strategic move not only aims at improving logistics efficiency but also promises a significant reduction in costs. The multi-modal connectivity will undoubtedly streamline the movement of goods, benefitting not only the logistics industry but also contributing to the nation’s economic growth.
Moreover, the government’s focus on reducing logistics costs is a game-changer. As a logistics company, we recognize that this emphasis directly translates into improved services and reduced expenses, ultimately benefiting consumers. Lower logistics costs and associated taxes have a domino effect, leading to a decrease in the prices of goods and services. This budgetary commitment aligns seamlessly with our aim to provide efficient, cost-effective, and reliable logistics solutions.
In conclusion, Budget 2024 reflects a forward-looking approach, with its strategic emphasis on infrastructure development, PM Gati Shakti’s initiatives, and reduction in logistics costs. As a logistic player, we are excited about the positive impact this will have on our operations and, more importantly, on our customers, fostering a more vibrant and competitive market for all.”
