Govt. sharpens plans for Sagarmala project

    Govt. sharpens plans for Sagarmala project
    The Government under the Sagarmala Programme has formulated a Master Plan for the development of 12 major ports of the country. This exercise aims at promoting the port-led development and in this regard 142 port capacity expansion projects worth Rs 91,434-crore and capacity creation of 884 MMTPA have been identified in this Master Plan for implementation over the next 20 years. Out of these, 58 projects with a cost of around Rs 28,767-crore have been approved. Notably, in 2015, an international benchmarking consultant conducted a study of the major ports which recommended 116 initiatives to enhance their efficiency and productivity to international benchmarks and unlock their capacity. Out of the 116 initiatives, 85 have already been implemented, officials said. To strengthen the shipping and ports sector and make it internationally competitive, the Government has taken various steps including exemption of Customs and Excise leviable on bunker fuels used in Indian flag vessels for transportation of mix of EXIM, domestic and empty containers between two or more ports in India, abatement of service tax of 70 percent for transportation of goods by coastal shipping and Inland Waterways transportation.
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