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In recent times, the Narendra Modi-led central government has brought in several measures to uplift the country’s economy. It has also set the stage for unlocking the growth potential for India’s logistics sector by setting up a dedicated logistics division under the Ministry of Commerce & Industry and granting the sector an infrastructure status.
Now as the government heads for its last full Budget in this terms when Finance Minister Arun Jaitley presents Union Budget 2018 on February 1, we would look forward to seeing more emphasis on improving the infrastructure.
Last year, we saw the finance minister announcing an investment of about Rs 39.61 lakh crore in infrastructure development. That is sure to be a boon – not only for express delivery players but for many industries.
This year, we would also expect efforts from the government to cut regulatory barriers and offer a seamless, transparent digital platform to ensure easy movement of goods and vehicles across the country. Lastly, our Budget 2018 expectation is that the finance minister would announce new schemes focused on fiscal incentives to encourage investments in special economic zones (SEZs). These will allow the private sector to consolidate and expand, and contribute to the economy more meaningfully.
The author is managing director of courier and logistics company TCI EXPRESS