Quote on budget expectations- Mr Amit Saraogi, MD, Anmol Feeds Pvt. Ltd
“There has been a significant rise in the price of maize in the country which is directly affecting the livestock feed market. The maize price had been an all-time high in the range of Rs. 23 and refuse to cool down even during harvesting time.
There are many reasons that have contributed to this hike like droughts in several states, fall armyworm that has destroyed crops in Maharashtra and Karnataka.
Moreover, a 5% GST has been imposed on raw materials such as Soya DOC, Rice Bran, and MBM essentials. All these factors are affecting the industry significantly. There is a 7-8% deficit in the production of maize in the domestic market.
Hence it is suggested that an import of 1 million MT can help meet the shortfall and cool down the price in the short term. However, the government should take measures to meet the demands of the industry and provide some relief from the situation. The Import of maize should be allowed duty-free this year to provide relief to the farming sector reeling under abnormally high maize prices.
Further to boost the sector, the government should also invest in and undertake programs that will help in creating awareness among farmers on how to use modern feed and farming techniques which in turn will help Aqua farmers in earning more profit. Policies should also be undertaken that will help farmers access much-needed capital. The Kisan Credit Cards should also be handed out at a faster rate so the farmers can access this capital to help them grow further.”
Quote on budget expectations- Mr. Aneel Gambhir, CFO, Blue Dart
“India is poised to become a $5 trillion economy in the next five years and is aspiring to reach $10 trillion in the next eight years thereafter. We have witnessed a wave of next-generation structural reforms from the government, which are gradually driving efficiency in the entire logistics ecosystem and have set the stage for decades of high growth. There is a considerable push from the Ministry for the implementation of the draft National Logistics Policy to bring down India’s logistics costs from the current 14 percent of the gross domestic product (GDP) to 9 percent.
Assigning an infrastructure status to the logistics industry was a significant decision taken by the government. The need of the hour is to enable a policy framework to facilitate trade and growth of the sector. With impetus on improving infrastructure and facilitating trade, tax incentives or subsidies from the government on warehouses will give it a further boost since logistics requires large investments which yield returns only in the long term.
We urge the Ministry to also include Aviation turbine fuel (ATF) under GST for cargo airlines as each state has different tax rates because of which the refueling cost fluctuates from region to region. Another key area to be considered is the revision of corporate tax rates as a tax relief to corporates will auger well in boosting investments as well as corporate earnings.
While there has been a huge focus on simplifying the e-way bill (EWB), there should be a further modification in the EWB generation system. The onus should shift from the transporter to the shipper as they have complete control on the content of the shipment. This will not only ensure that the right EWB is being generated but also impact the transit time positively as time bound delivery is a critical aspect in the express business industry.
Digitisation requires further thrust especially digital payments to aid higher compliance ratio. Technology and automation are the key drivers of business in the logistics space, thus further impetus should be given to higher adoption and integration of systems to enable seamless business transactions.”
Budget pivotal for the education sector-
While the upcoming Budget is crucial for all sectors, it is pivotal for the education sector. We expect that a substantial amount would be set aside to the education sector so that we can lay a stronger foundation for new-age learning strategies. For any country, the most significant returns are those garnered from investments made in its children. Hence education is a critical sector and the budget needs to improve the standards of learning. The quality of teaching and the learning ecosystem needs significant improvement to enable students to perform at their expected levels. The current allocation for education is less than 3% of the GDP, which is low compared to developed countries where it usually ranges between 5% and 7% of the GDP. Teacher training is important to develop and build capacity for addressing the current learning needs. There is a need for Improving facilities in institutions through setting up smart classrooms, modern laboratories, research facilities and libraries which would enhance the quality of learning. Hence the government must emphasize on education at all levels. We also expect the government to improve the quality and scale of education across the country through a continued digital push. By Ms. Niru Agarwal, Trustee, Greenwood High International School
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