The Union Budget 2024, presented  by the Finance Minister Nirmala Sitharaman, plays a pivotal role in steering the logistics sector towards resilience and transparency through innovative solutions and streamlined regulations. Yashpal Sharma, Managing Director, Skyways Group welcomes the budget for the logistics industry, He said, “The Capex for infrastructure increase by 11.1%, which will give a boost to air cargo and logistics.”

The interim budget for 2024 continues the Government’s past reforms agenda. This budget is focused on Policy Continuity and Fiscal Consolidation. It is heartening to see the Capex for infrastructure increase by 11.1%. This means more investment in roads, airports, ports and other related infra which will give a boost to Air Cargo and Logistics. Three new rail corridors will surely pave the way for faster surface movement and reduction of load on roads. 

The Finance Minister and the Prime Minister are in sync in saying that we are moving into the Golden Era of our Economic journey. India is likely to be the third largest economy by 2027 and USD 7 Trillion by 2030 or earlier.

Air Cargo and the entire logistics industry is hopeful that more positive things will happen in the coming months, post our general elections that will be announced soon.