The upcoming Union Budget shouldn’t solely create a roadmap for sustainable progress within the logistics sector but additionally incentivise the trade to undertake sustainable practices, operators stated on Thursday.
Finance Minister Nirmala Sitharaman is scheduled to current the Union Budget 2023-24 within the Lok Sabha on February 1.
FedEx Express Senior Vice-President Middle East Indian Subcontinent and Africa (MEISA) Operations Kami Viswanathan in an announcement stated, “We advocate the implementation of zero score of Goods and Services Tax for all worldwide transportation providers.
“Most of the worldwide GST/VAT legislations ‘zero-rate’ worldwide freight transportation providers. This would facilitate commerce and align India with worldwide tax practices in addition to cut back logistics prices.” “The funds shouldn’t solely create a roadmap for sustainable progress within the logistics sector but additionally incentivize logistics gamers to undertake sustainable practices,” Viswanathan stated.
According to Mahindra Logistics CFO Yogesh Patel, the federal government may contemplate introducing concessions for electrical automobile (EV) infrastructure set up, reminiscent of charging stations along with concessions for brand spanking new EVs which may expedite the adoption of EVs for business functions and velocity up its presence within the last-mile supply providers.
“Union Budget ought to proceed to prioritise the advance of logistics infrastructure throughout roads, warehouses and ports,” Yogesh Patel defined.
The announcement of the National Logistics Policy has clearly laid out the route to enhance the effectivity and transparency of operations. Multiple interventions throughout the logistics ecosystem, that the National Logistics Policy defines, must be adequately funded by the funds in order that its results will be seen within the years to return.
“One of the main target areas for the funds will be on enhancing transparency and visibility, which will be attained by way of the Unified Logistics Interface Platform as and when it’s built-in into the system,” he defined.
(Except for the headline, this story has not been edited by NDTV employees and is printed from a syndicated feed.)
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