BUDGET REACTIONS
‘Budget will bolster Indian manufacturing by assisting in seamless movement of goods & accelerate integration into global supply chain’
“The Budget is focused on continuity in the direction of macro policies and economic strategy. The seven priorities have a strong positive bias for infrastructure development. Developing national infrastructure and the government’s thrust on capital expenditure of Rs 10 lakh crore indicates that it is pushing forward with its transformative agenda. Furthermore, the first and last mile connectivity has been prioritised by identifying one hundred critical transport infrastructure projects especially for ports, coal, steel, fertiliser and foodgrains sectors with investment of Rs 75,000 crore, including Rs 15,000 crore from private sources.
To encourage energy efficiency, government will promote coastal shipping as low-cost mode of transport for passengers and freight through PPP mode with viability gap funding. To further ease the movement of cargo in the country, expenditure on the Dedicated Freight Corridor has been raised for the financial year and is 75 per cent higher than the Rs 15,710.44 crore allocated for FY23. Additionally, to boost regional connectivity, the government is looking to revive fifty additional airports, heliports, water aerodromes and advance landing grounds.
All of these provisions will help the country to bolster the strength of Indian manufacturing by assisting in seamless movement of goods and accelerate India’s integration into the global supply chain by strengthening its necessary physical infrastructure and helping to boost imports from India by lowering the logistics cost. Focus on Green growth, and tax benefits for lower income slabs aimed at youngsters and senior citizens completes a Wholesome Budget.”
Suresh Kumar R., Chief Executive Officer, Allcargo Logistics