“Finance Minister Nirmala Sitharaman’s Budget 2023 has focused on fiscal consolidation while prioritizing infrastructure creation, last mile connectivity and skill development. The substantial increase in capital outlay for infrastructure projects across centre and states, coupled with the specialized focus on improving last mile connectivity, will lead to creation of important last mile linkages. The record outlay for the Indian Railways will provide the necessary impetus to programmes like the Dedicated Freight Corridor project that are critical to bringing the cost of freight movement down.”
“These concurrently align with the goals envisioned under the National Logistics Policy. Development of private participation will also be crucial in implementing the 100 critical first and last mile transportation projects identified by the government as well as for helping India achieve its efforts towards net zero emissions by 2070. Rationalization of custom duties on specific products, extending credit access to the MSME sector as well as easing of SEZ regulations will also help Indian products become price competitive globally.”
“We are confident that the Budget FY24 will attract private investment for capital expenditure, which will spur economic growth and position India as one of the fastest growing nations in the world.”
