With the onset of February, it’s time to look forward to a new Union Budget. The question that everyone is asking is, ‘What it will have in store for the logistics sector?’ This is the first Union Budget after the implementation of Goods and Service Tax (GST). The sector has a number of demands from the government, some of which are better infrastructure, amendment in GST or regulation barriers, etc. The government has brought some great possibilities, with the proposed e-way bill and infrastructure status to enable smooth transportation of goods.
The e-way bill is also scheduled to start from February 1. So, while the industry is optimistic about the new inter-state e-way bill, on the other hand the unorganised sector is also expecting some disruption in the supply chain. There is also news in the industry that states may exempt a certain category of business from e-way bill for moving goods within cities to avoid inconvenience to taxpayers. The Uttar Pradesh government is also preparing its own logistics policy; such initiatives depict growth in the sector at ground level. On the maritime front, government is working on building relationships with neighbouring countries through Chabahar Port. Ports are coming up with the latest technology to make cargo clearance effortless, swift and efficient. The Federation of Freight Forwarders Association in India (FFFAI) also held a press conference to provide an update about the FIATA World Congress 2018 (FWC-2018). The association is leaving no stone unturned in making this conference successful.
*At the time of going to press.