Below is quote on Budget 2023 expectation by Logisitcs Sector from Mr. Anshuman Singh, MD & Chairman, Stellar Value Chain Solutions
"Logistics industry is the key growth engine of the economy, as a result, logistics infrastructure development has been given a major impetus by the government. Clearly the government recognises the logistics industry's role in fast tracking the economic growth by aiding industries in their growth trajectory post the pandemic. Launch of the National Logistics Policy (NLP) reflects the government's intention to improve logistics infrastructure, lower costs, and increase operational efficiency.
Following the announcement of the National Logistics Policy (NLP), the industry expects the Union Budget 2023– ‘24 to propose measures to strengthen the logistics and supply chain management infrastructure to boost connectivity across the country, thereby building a framework capable of reducing logistics costs and transit time.
As the consumer and ecommerce sector and D2C segments have redefined the logistics performance metrics with the introduction of time and cost-efficient delivery, the union budget should propose incentives to encourage digitisation and data-driven tech adoption. The government in the upcoming budget should also propose incentives in terms of capital subsidies for encouraging private investments in setting up grade-A warehouses at key logistics hubs in tier-2 or tier-3 towns, as the domestic logistics market is steadily expanding to various emerging consumption centres in semi urban and rural areas."
Above views are of the author and not of the website kindly read disclaimer