The Budget – 2022 is being presented in the parliament, on February 1, 2022. Today, we post – Pre-Budget Quote From Bhagwanji N Patel, Antariksh Group.
Pre-Budget Quote From Bhagwanji N Patel, Antariksh Group
Infrastructure is the backbone for the fast and overall development of any country. Development of infrastructure for warehousing and logistics industry is a crucial tool in our Prime Minister Narendra Modiji and Government Of India’s Make In India initiative and for the future vision of 5 trillion economy of our country. For the Make In India initiative to succeed, their logistic needs has to be made easily available and at reasonable costs.
- In India, the logistic sheds are still do not match the international standards because of the high cost of logistic sheds. We need to reduce the costs at various stages in this sector, like reduction in the interest rate or subsidy in interest, GST reforms like setoff of GST input on construction of warehouses against lease income from logistic sheds, income-tax holiday for incomes from activities related to logistics sector (A-grade warehouses) including logistic park/warehouse developers, 3PL logistic companies, lease income from warehouses of A-grade, etc.
- There is a need to provide subsidy for the construction of A-grade warehouses; this will boost the logistic sector.
- Declaration of warehousing zones at various locations in the country and various incentives to the A-grade warehouses in the said zones. 4. In India, the infrastructure is on the path of development. However, this infrastructure, especially, roads need to be developed at a faster pace. This will save the time, fuel, cost and help the fast movement of goods.