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Union budget 2020 well balanced, steps like Kisan Rail, NABARD refinance scheme will boost demand for cold storage infra and warehousing

Posted On: 2020-02-03 10:35:02

Mr Chandrakant Patel, CMD, Ice Make Refrigeration Limited said "We believe budget 2020 is well balanced. The new and increased budget plan outlays will boost the growth prospects of cold storage infra and logistics sector. Steps like "Kisan Rail" that will provide refrigerated coaches in trains (thereby helping farmers access faraway markets quickly, cheaply and efficiently), expansion of NABARD refinance scheme which will map and geo-tab 162 mn tonne capacity agri warehouses across country, setting up of village agri storage facilities by self help groups, allocation of Rs 2.83 lakh crore for agri and allied activities, Rs 1.7 lakh cr for transport infrastructure, development of 100 more airports, Delhi-Mumbai Expressway, doubling of milk processing capacity, promotion of one horticulture crop in each district on cluster basis, introduction of simplified return for GST from April 2020, are some of the major steps that can certainly boost the demand for refrigeration, cold storage and logistics infrastructure across the country and also improve the overall fundamentals of the economy."

"Though the FM has not made any major fiscal stimulus and big plan outlays this time, however, the budget 2020 looks quite balanced with the limited resources the government has in hand currently. We believe under the circumstances, they are able to maintain fiscal responsibility, is the biggest positive and the nominal GDP growth at 10% as a benchmark is quite sensible. Increased fund allocations in various plan outlays indicate government has serious intentions to revive the private investment cycle, and to increase the agricultural income. The 16-point action plan proposal to boost agriculture and farmers welfare is a certainly a good step. However, more reforms are needed to tackle the pain points of the economy." Mr Patel added.


Source: Equity Bulls

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