The Union Budget for the upcoming financial year is slated to be presented on February 1, 2025, by Finance Minister Nirmala Sitharaman. It has been anticipated that the Narendra Modi government may consider slashing income tax for individuals earning up to Rs 15 lakhs per annum and extend the tax relief bracket in a bid to provide relief to the middle class and boost consumption, as per several reports.

 

Speaking on behalf of the logistics sector, Ravi Jakhar the Chief Strategy Officer of Allcargo Group underlined his sector's expectation from the Union Budget 2025.

Ravi Jakhar said, “The logistics industry is poised to play an enabling role in driving economic growth on the back of policy support, technology integration and continued infrastructure development. Hence, in the Union Budget 2025-26, we expect the government to propose robust capex in developing both physical and digital infrastructures to build the pathway for India to become a $5 trillion economy by FY27-28."

 

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