In a recent statement, Mahendra Shah, the Chairman and Managing Director of V-Trans, praised the interim budget for the fiscal year 2024-25. Shah highlighted the budget’s effective management of the fiscal deficit and its visionary approach towards infrastructure development. He pointed out the significant implications these measures hold for the logistics sector and the broader economy.
Fiscal Discipline and Economic Growth
Shah commended the government’s achievement in managing the fiscal deficit, which is set at 5.8% for the fiscal year 2024, aligning with the budget’s objectives. He also noted the government’s ambitious plan to reduce the deficit further to 4.5% by fiscal year 2026. This disciplined fiscal approach indicates a stable economic environment, essential for business growth and investor confidence.
Infrastructure and Logistics
A major highlight of Shah’s statement was the 11.1% increase in infrastructure spending, totaling an impressive INR 11.11 Lakh Crore. This boost demonstrates the government’s commitment to enhancing India’s logistics and transportation sector.
PM Gati Shakti A Game Changer
Shah specifically mentioned the PM Gati Shakti program, a major railway corridor initiative, as a strategic move to improve logistics efficiency and reduce costs. He believes that the multi-modal connectivity promised by this initiative will streamline the movement of goods and significantly contribute to the nation’s economic growth.
Revolutionizing Logistics with Cost Reductions
Shah also emphasized the government’s focus on reducing logistics costs, viewing it as a game-changer for the industry. He stated that such a focus would lead to improved services and reduced expenses, benefiting consumers through lower prices of goods and services. This aligns with V-Trans’s objective of providing efficient and cost-effective logistics solutions.
A Forward-Looking Budget
Shah described the Budget 2024 as a forward-looking approach that strategically emphasizes infrastructure development, the initiatives under PM Gati Shakti, and the reduction of logistics costs. He expressed optimism about the positive impact these measures would have on V-Trans’s operations and their customers, fostering a competitive and vibrant market.
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