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Thursday , 30 May 2024

UNION BUDGET RESPONSE

Akhilesh Srivastava

Akhilesh Srivastava World Economic Forum Leading Road Safety 2.0 in India

An excellent and futuristic budget. With increased expenditure on Infrastructure, the government’s vision and commitment is very clear. The budget will take India to a $10 Trillion USD economy.

The focus on multimodal and new logistics parks will reduce overall Logistics cost and improve efficiency (provided everything works synchronously) and reduce the cost of products making it competitive in international and domestic markets.

Truck drivers hopefully will get better facilities on the highways and ease of doing business will improve. Mid Size trucking players will get washed out of the system and small ones will join the larger fleet owners through consolidation. As not much was done around the road safety initiative indirectly either, we will continue to bleed in terms of costs to the GDP and lives.
Government should give some PLI kind incentive on manufacture of technology and equipment to be used for Road Safety in order to boost technology infusion in road safety as road fatalities dent GDP by 4 lakhs Crores annually.

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