en English

Union Budget 2022: Logistics stocks soar as FM talks about Unified Logistics Interface Platform and strengthening the Gati Shakti Yojna

Reading Time: 2 minutes

Finance Minister Smt. Nirmala Sitharaman, while presenting the Union Budget 2022 today, announced that the government will be putting more focus on the ease of logistics across the country. In order to facilitate data exchange across multi-modal operators, the Unified Logistics Interface Platform will be put into action, which will, in turn, enable efficient movement of goods, reduce logistics costs & time, assist in ‘Just-in-Time’ inventory management and eliminate tedious documentation.

The FM also said that rail and road connectivity would be continued to worked upon (including 25,000 kms of road network) in order to strengthen the PM Gati Shakti Yojna. She added that 100 Gati Shakti Cargo Terminals will also be developed and railways will develop special projects for the MSME sector in the upcoming years. The government will also award contracts for development of multi-modal logistics parks soon.

Following the FM’s announcements for the logistics and supply chain sector, stock of the logistics companies started to soar. Allcargo Logistics (up 6.71%), Corporate Courier & Cargo (up 4.94%), Sanco Trans (up 4.55%), Sical Logistics (up 4.35%), Patel Integrated Logistics (up 3.61%), Transport Corporation of India (up 3.31%), Orissa Bengal (up 2.80%), Future Supply (up 2.69%) and Apollo Tricoat (up 2.68%) were among the top gainers.

The FM highlighted the ‘Amrit Kaal’ blueprint, under which, 16 ministries – including railways, roads, shipping, oil & gas, power, shipping – will work together on the integrated development of infrastructure, guided by the Gati Shakti Yojna.

Leave a Reply

Your email address will not be published. Required fields are marked *

LATEST NEWS