“The budget attempts to pave the way for a long-term and sustainable economic growth for the country. The expected economic growth is expected around 7% by maintaining macro-economic stability amid geopolitical developments and facilitating employment generation. New age technology adoption right down to the grassroot level, green energy transition along with infrastructure focus are some of the highlights of the budget.
Infrastructure is the foundation of any economic growth as it facilitates trade and commerce and the government’s commitments towards this are clearly evident. This is the third consecutive year of the government’s investment in infrastructure. INR 10 lac crore has been earmarked which is up by 33%. The government is also offering interest free loans to states for infrastructure development. The proposal to develop transport infrastructure will develop critical linkages to facilitate multi-modal transportation, which is extremely critical.
Green initiatives coupled with EV infrastructure development working towards net zero emissions have a favourable impact on the logistics and supply chain industry as it helps the industry expand while still saving cost and most importantly keeping the environment green. The proposal to set up centres of excellence for artificial intelligence and introduce Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 4.0 will not only help the economy leverage the power of youth but also set the stage for a large-scale rollout of smart logistics equipped with data-driven technologies.
With all the infrastructure investment, technology enablement initiatives, environment friendly focus and employment generation and consumption, India is poised for the next phase of growth in its endeavour to be a strong force to reckon with globally.”