Union Budget 2021-22 Reaction - Mr. Prem Kishan Dass Gupta, Chairman & Managing Director, Gateway Distriparks Ltd

"The Union Budget 2021-22 placed key focus on healthcare, infrastructure, digital economy and job creation for the youth. The announcement of massive investment of Rs. 2000 crore on seven port projects under PPP mode will boost the logistics sector and enable overall economic growth. Under the Recycling Act, 2019, a recycling capacity of around 4.5 Million Light Displacement Tonne (LDT) will be doubled by 2024. This will not only benefit us as a company but also be a way of providing employment opportunities.

With road and rail connectivity being an indispensable factor of the economic development, an allocation of Rs 1,10,055 crore for Railways has been made where the eastern and western dedicated freight corridors will be commissioned by June 2022. This will help in bringing down the logistics cost as well as ensure smooth connectivity between different points of country and ensure easy and faster freight movement. The Union Budget targets 100 percent electrification of broad-gauge railways to be achieved by 2023. This will increase efficiency, and reduce dependence on conventional fuels.

The Government's push to port, road and rail infrastructure through various investments, initiatives and projects will further add to the development of the logistics industry in India."

Source : Equity Bulls

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