“The budget presented by our Finance Minister announced a positive outlook for the Indian logistics sector, with the Government of India focusing on modernizing and upgrading the sector to improve its competitiveness and efficiency.
In a big positive, the government has identified 100 critical transport infrastructure projects for last and first mile connectivity for ports, coal, steel, fertilizer, and food grain sectors. They will be taken up on priority with an investment of ₹ 75,000 crore, including ₹ 15,000 crore from private sources. Additionally, ₹ 2.40 lakh crore have been allocated for the Indian Railways’ capital expenditure. This expenditure is the highest ever, and the remaining works of WDFC will be completed in fiscal 2024. It will boost the movement of goods from roads to railways.
Small businesses in the logistics sector can avail themselves of tax benefits and subsidies, which will help them grow and expand. Moreover, the government has announced measures to promote domestic manufacturing in certain sectors, which is set to offer the logistics sector the much-needed impetus to exponentially expand the demand for goods transportation and warehousing services within the nation.”
