Budget 2021 – What All The New Budget Has For Courier & Logistics
The new budget for the year 2021 has been out on February 2, 2021. The finance minister Nirmala Sitharaman has proposed a budget in the country’s welfare and people. The budget has some or other thing for everyone and each field.
The budget of 2021 had eyes from everyone around the country, after this harsh year 2020 due to the pandemic COVID-19. We all are suffering from bad times. Health and our economic condition both are at risks.
The new budget has brought some or other relief for everyone around the country. Let us know what all it has for the logistic companies.
Budget For Logistic Aggregators
Logistics aggregator has a significant contribution to the GDP and growth of the country. They have a business worth rupee 300 billion, and they contribute up to 12% in the Indian economy. Earlier numerous suggestions were posted by aggregators and advisors for the felids to be improved in the logistics field. Improvement in warehouses, increase supply blockchain, increasing transportation facilities, privatization of logistic sector and other.
The final developments and budget allocation on the logistics aggregators are made on increasing the transportation facilities. The finance minister has introduced a national rail plan for India 2030 under this. All the uncovered routes will be covered through railways to lessen shipment load and deliver bulk products to one to another place. The plan states that paramount to remote all the parts will be covered by national railways to cut down the logistics cost and promote make in India in every aspect of India. Over 18000 crores have been dedicated to this plan from the union budget plan 2021.
Development of Transportation Under New Budget
Transportation availability is the crucial part of the chain from delivering any product to the customers’ doorstep. Be it logistic aggregators or the online business or any other field giving the facility of delivering products all over the nation bear a massive cost for delivery. The newly made plan will help a lot in cutting down the transportation facility’s cost for logistic aggregators. The finance minister has stated that almost all the budget allocation will be completed by December 30, 2023, to the concerned departments.
With this plan, the finance minister has stated that the urban cities will have more metro links to remote areas. Bus facilities will also be increased to increase the connectivity of different pin codes. The plan will uplift other sectors with the same motive to improve the economic growth of the country. The funds will be raised to work upon increasing connectivity over the national highways as well. The plan will start working by June 2022.
Over 2,000 crores have been allotted to increase better services on the major ports in India.
All over it is concluded that the budget has focused on improving transportation facilitation over the nation. To promote make in India and connect major to remote parts of India. The betterment in transportation will automatically benefit the logistics country. They will not need to arrange special transport to different areas.
The finance minister stated that all the plans and allocation of the budget had been done with a single motive to uplift and developed the economy of the growth and the growth of all the sectors in the country.
