MUMBAI: In his Budget reaction Mr. Prakash Tulsiani, Executive Director & CEO – CFS & ICD, Allcargo Logistics said, “Logistics will play a key role in propelling India to become a USD 5 trillion economy over the next 5 years. The interim budget has broadly outlined the Government’s vision to improve the sectorial competencies of Indian logistics and empower supply chain capabilities.

A 21 percent allocation for the

North Eastern region of the Country to Rs. 58,166 crore has the potential to uncork the untapped logistical efficiencies of the region. It will also boost connectivity-driven initiatives to bring the region within the broader national logistics framework to bolster economic growth and development within NE and create employment generation opportunities.

The budget provides a wider blueprint of the Government’s resolve to continue on the path of logistics sector empowerment with pro-industry measures like Ease of Doing Business and expediting Inter-State freight movement through simplified e-way bills.

Emphasis on inland water development is a welcome move. The tax sops will result in more disposable income. This will lead to more discretionary spending, boosting movement of goods and benefiting the overall logistics sector.”