A fair Budget for logistics sector: Vineet Agarwal

The Budget has been a reason for cheer for logistics sector. Apart from setting aside Rs 2,000 crore for warehousing, augmentation of storage capacity through private entrepreneurs and warehousing corporations has been fast tracked. Also, to pave way for introduction of the long-awaited GST regime the Constitution Amendment Bill will be presented in the parliament. Vineet Agarwal, Executive Director, Transport Corporation of India (TCI), expressed hope hoping that GST will be implemented soon, which will replace the cascading effect created by existing indirect taxes.
 
He also said: "Providing cold storage chains an infrastructure status is a welcome move as it will help improve and add infrastructure in this area. The scope of exemptions to improve storage and warehouse specialty for agricultural produce has been further enlarged. Thus, giving full exemption from excise duty on air-conditioning equipment and refrigeration panels for cold chain infrastructure.  The removal of duties on imports of spares for ship owners is also a welcome move as for domestic shipping firms as repair costs will go down."
 
However, Agarwal said, the government should have considered giving the logistics sector an infrastructure status on a whole.