Mumbai: The Union Budget 2022-23 will be presented by the Union Minister of Finance Nirmala Sitharaman on February 1, 2022. CA L V Rathi & Bhagwanji N Patel of Antariksh Group presents theirs expert’s views on the Budget Expectation 2022:
- Infrastructure is the backbone for the fast and overall development of any country. Development of Infrastructure for Warehousing and Logistic Industry is crucial tool in Our Prime Minister Shri Narendra Modi ji and Government Of India’s Make In India initiative, and for vision of 5 Trillion Economy of Our Country. To help Make In India initiative, their logistic needs has to be made easily available and at reasonable costs.
- In India still the Logistic sheds are not up to the Grade matching with the International Standards because of high cost of Logistic Sheds. We need to reduce the costs at various stages in this sector Like reduction in interest Rate or subsidy in interest, GST Reforms like setoff of GST input on construction of Warehouses against Lease income from Logistic Sheds, Income-Tax Holiday for Incomes from activities related to Logistic Sector (A-Grade Warehouses) including Logistic Park/Warehouse Developers, 3PL Logistic Companies, Lease income from Warehouses of A-Grade etc.
- There is a need to provide Subsidy for construction of A Grade warehouses; this will boost the logistic sector.
- Declaration of Warehousing Zones at various Locations in the country and various incentives to the A-Grade warehouses in the said Zones.
- In India the Infrastructures are on the path of development, however these infrastructures specially Roads to be developed at more fast pace, this will save the Time, Fuel, Cost, and help fast movement of Goods.