COLLIERS BUDGET QUOTE 2022
The Budget made several announcements to spur growth of the logistics sector in the country. The Budget announced that about 25,000 km of new highways will be built this year. Moreover, Gati Shakti Masterplan for expressways,100 new cargo terminals for multi-nodal logistics, and development of urban metro systems will give a big boost to new warehousing and logistics facilities across the country. The government also extended the ECLGS up to March 2023. This will go a long way in supporting the MSME sector and revive industrial activity. This has immense scope to drive demand for warehousing and logistic sectors. The government repealed about 1,490 union laws, paving the way to enhance ease of doing business. The government also plans to launch ‘Ease of Doing Business 2.0.’ This should include more dynamic aspects and make India a more investment friendly destination. Announcements such as 48,000 crores for PMAY, 80 lakh homes under PMAY, single window environmental approvals, better co-ordination between the centre and states for approval processes and uniform registration of deeds will help boost the affordable housing market.
Tags : Ramesh Nair CEO India & Managing Director Market Development Asia at Colliers Union Budget 2022