Reaction on the Union Budget 2014-2015 by Mr. Vineet Agarwal, Managing Director, Transport Corporation of India

The new government's presentation of the budget for the year was preceded with high expectations not just for the country but also for supply chain and logistics industry. The budget did not disappoint and for the first time we saw several industry level announcements for the logistics sector. Just the fact that the Finance Minister used the word 'warehouse' more than 10 times indicates the focus on logistics!

As per the 'Doing Business' report 2014 of the World Bank, India's rank is 134 against other BRIC economies like the Russia Federation (92); China (96); Brazil (116); Indonesia (120). Aspects related to logistics in the ease of doing business cover areas of cross border traffic. In India, both inter and intra trade have been addressed in this budget with specific announcements of increasing 24X7 customs clearance at ports and airports and a solid intent to implement Goods and Services Tax (GST) in the coming year.

The impact of infrastructure on the transportation industry is massive and the Government's plan to accelerate game changing projects like the Diamond quadrilateral, Sagar mala, dedicated expressway on high traffic density roads will help the sector tremendously.

According to Transport Intelligence among 49 emerging markets, India has slipped by 2 ranks, behind China, Brazil, Saudi Arabia at 6.75 as the 2014 logistics index. More thrust on multimodal transportation and better coordination between concerned ministries should get our nation competitive in the global economy.

Shares of TRANSPORT CORPORATION OF INDIA LTD. was last trading in BSE at Rs.216.95 as compared to the previous close of Rs. 196. The total number of shares traded during the day was 65389 in over 5306 trades.

The stock hit an intraday high of Rs. 224.35 and intraday low of 187.6. The net turnover during the day was Rs. 13915178.

Source : Equity Bulls

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