One of the biggest issues being faced by the construction industry was the availability of finance and liquidity February 2020
The Budget 2020 Outcome for the logistics sector looks positive. The finance minister has proposed to release the National Logistics Policy soon. She has also proposed to build a seamless national cold storage chain. The Budget also mentioned that the National Bank for Agriculture and Rural Development (Nabard) will map and geotag the warehouses and cold storages. CW records industry reactions on what the Budget has in store for the logistics sector.
Ichiro Oshima, CEO, DMICDC Logistics Data Services (DLDS), says, “With the Budget 2020-21, the government has announced spending Rs 103 trillion over the next five years on National Infrastructure including logistics. The emphasis on proposing a National Logistics Policy to create a single-window e-logistics market is a positive and encouraging step for the industry. We welcome the governments push for infrastructure and economic activities with a proposal of setting up a 9,000-km economic corridor and 2,000-km of coastal roads.”
Rajesh Neelakanta, Executive Director & CEO, BVC Logistics, shares, “The focus on logistics through the development of 9,000 km of economic corridors is a welcome move. It will encourage economic transformation and seek to improve connectivity that is much needed for the growing economy. We look forward to the National Logistics Policy which will clarify the roles of the Union Government, State Governments and key regulators. We are keen to know about the e-logistics market as mentioned by FM. It will be interesting to see the thrust on agri-warehousing and proposal of running Self Help Groups (SHG) in the villages to reduce logistics costs. We are hoping that the local economy will revive through the SHG.” He adds, “The initiative to invest Rs 100 trillion in infrastructure will definitely have a positive impact on the nation’s logistics and transportation industry both from a business and connectivity perspective.”