“Today, the mobility sector reaches a crucial juncture of India’s economic development, urbanization, and sustainability, and it is well placed to propel it forward by making optimum utilization of the upcoming Union Budget.” Ashok Vashisht, Founder and Group President, WTicabs
As India gets ready to present its Union Budget, we eagerly look forward to sustained support for making its mobility ecosystem infrastructurally superior, digitally integrated, and modernized in its transport fleets. Today, the mobility sector reaches a crucial juncture of India’s economic development, urbanization, and sustainability, and it is well placed to propel it forward by making optimum utilization of the upcoming Union Budget.
Facilitating compliance and minimizing state-specific taxes and making the ease of doing business better in the transport segment will be highly essential. Access to relatively cheap capital, particularly in the case of MSME transport fleet owners and first-time entrepreneurs, can make a world of difference in the development of organized sectors and can ensure better services. Technology adoption such as telematics, AI-based fleet management, and digital freight marketplaces can make the operations even more efficient and reliable.
Emphasis on modernization of the existing fleets through scrappage policies, GST harmonization related to transport vehicles, and finance support will enable the replacement of old fleets with newer, more environment- as well as fuel-efficient options. Alongside, it is also crucial that continuity in policies related to electric mobility, alternative mobility, along with facilities related to charging points and battery replacement, play a pivotal part in enabling the objectives related to climate change.
At the same time, it is important to invest in logistics parks, highways, multimodal transportation hubs, and last-mile solutions that will help the industry in overcoming the issue of turnaround time. With the right policies in the Budget to support the mobility industry through the right mix of tax policies, investments in infrastructure, and regulatory support, the industry can help the Indian economy in a major way.
The author is Ashok Vashisht, Founder and Group President of WTicabs
