Union Budget 2025 | 'Building a globally competitive and robust logistics ecosystem key to drive sustained economic growth,' says Suresh Kumar R, MD, Allcargo Terminals

Union Finance MInister Nirmala Sitharaman is set to present the Union Budget on February 1 in the Lok Sabha. The Economic Survey by the Finance Ministry will be released on January 31.

In this context, several industry leaders have opened up about their expectations from the Budget.

Suresh Kumar R, Managing Director, Allcargo Terminals Limited, said regarding the Budget, ''Integrating India further into the global value chain and building a globally competitive and robust logistics ecosystem are key to drive sustained economic growth and realising the vision of Atmanirbhar Bharat. We expect continued thrust on capital expenditure for physical and digital infrastructure and emphasis on port infrastructure development for attaining 10,000 MTPA port capacity by 2047. Continued investment to enhance transport connectivity, rail corridors, incentives for adoption of EV trucks and fiscal benefits for developing EV infrastructure will foster sustainable multimodal connectivity."

"To enhance EXIM trade, we expect the budget to outline policies to leverage existing assets and infra -structure in and around ports. For instance, opening up handling of air cargo by CFS-ICDs, exempting any service such as storage handling of containerized Agri products from the purview of GST. Continuing export promotion incentives and facilitating the development of export hubs will further strengthen Indian manufacturing to be globally competitive and attract investments which will boost Indian exports," he further added.

Union Budget 2025 | Nirmala Sitharaman, who continues to be Finance Minister, will present her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', reports suggest there might be a tax relief for those making up to Rs 15 lakh per year. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.