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Budget 2013 - Logistics

Tuesday 19 March 2013

Expect faster progress on Industrial Corridors and GST implementation.

The Union Budget has the Delhi Mumbai Industrial Corridor (DMIC) on fast track. It is being developed on either side along the alignment of the Western Dedicated Rail Freight Corridor. With the assistance of Rs 185 bn provided by the Indian Government and financial assistance from Japan, the project is expected to be completed in the next 5 years.

The long awaited GST implementation also received due consideration. Work is underway to draft model legislations for Central and State GST. Among the other steps that are being taken for the introduction of GST is the establishment of a strong IT infrastructure. The introduction of GST will lead to rationalization and simplification of the tax structure at both the centre and state levels and there would be continuous tax credit; right from the producer to the final consumer level.

However the hike in corporate income tax surcharge from 5 to 10% could impact the sector in this financial year by impacting the profitability of Companies by 1.5%.

So who wins this year?

Overall, the Budget has been positive for the logistics industry as it would facilitate easier interstate movement of goods and shift of business from the unorganized to the organized sector, thereby providing additional logistics opportunities.

Increased assistance from NABARD for construction of warehouses, godowns, silos and cold storage units designed to store agricultural produce, both in public and the private sectors will help companies to enhance storage facilities.

The pre-allocation of Rs. 9000 crore as compensation to States on the passage of the GST is expected to enable existing infrastructure such as warehouses, logistics systems etc. leading to such facilities being set up to improve business efficacy instead of for saving taxes, thereby leading to an expected reduction in cost.

Want the stalwart of the industry analyze the budget for you? Click here.

Looking to invest in the Logistics sector? Click here to open an account with Kotak Securities.

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