By Mayur Gandhi, Chief Financial Officer, Schenker India Pvt. Ltd. 25 Feb 2015, 07:34 am
An effective Logistics and Supply Chain system is critical for an economy like nervous system in a human body. In this Budget, we expect;
· Clarity on the GST implementation road map to prepare for an efficient logistics solution for the manufacturers and traders.
· An appropriate tax system for rental costs which is currently subject to Service Tax and TDS at higher rates. Rent should be treated as return on investment and not as provision of services.
· Speedier implementation of investment planned in the Dedicated Railway Freight Corridors for more effective and pollution free transportation system.
· Tax incentives for investment in fuel efficient transportation equipment and setting up of new warehouses by higher tax deductible rate of depreciation.
· Drive the “Make in India” campaign by improving India’s rank in the World Bank's 'Ease of Doing Business' index (Currently at 142 out of 189) and in the Transparency International’s ‘Corruption Perception’ Index ( Currently at 85 out of 175) by setting benchmark targets for the same.
There is indeed a long way to go to complete the economic reforms agenda and baby steps will no longer work.
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New Delhi/NITN: Regular flyers on Jazeera Airways, Kuwait’s low-cost carrier, can now avail a host of discounts and benefits by enrolling for the new membership club introduced by the airline, recently.
Gurugram: Air India, a global airline in India, has initiated the deployment of its recently acquired Boeing 777 aircraft to serve all three non-stop routes from Mumbai to the United States.