Current Affairs PDF

Financial assistance of Rs 2,302.05 cr for projects under Coastal Berth Scheme

By
AC Team 1
-

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

Union Ministry of Shipping has announced to provide financial assistance worth Rs 2302 crore for projects under the Coastal Berth Scheme of the flagship Sagarmala Programme. 

About Coastal Berth Scheme:

Objective of Coastal Berth Scheme (under flagship Sagarmala Programme) is to provide financial assistance to ports or State Governments in order to create infrastructure for movement of cargo and passengers through sea or national waterways.

  • Under this scheme, admissible financial assistance from Central Government is 50% subject to pre-decided maximum ceiling, depending on the type of work.
  • In October 2017, Union Ministry of Shipping, in consultation with NITI Aayog and Department of Expenditure, extended the period of the scheme up to March 31, 2020. Capital dredging at major ports has also been brought under the scope of this scheme.

Projects to be undertaken under Coastal Berth Scheme:

Projects under Coastal Berth Scheme will be executed in total eight states.With 12 projects, Maharashtra is the state having highest number of projects under this scheme.Financial assistance of Rs 2,302.05 cr for projects under Coastal Berth Scheme

  • 10 projects will be executed in Andhra Pradesh & Goa, 6 projects in Karnataka, 3 projects in Kerala and Tamil Nadu, 2 projects in Gujarat and 1 in West Bengal.
  • Under this scheme, Union Ministry of Shipping has already released Rs 230.01 crore to Major Ports, State Maritime Boards and State Governments.
  • Most recent beneficiaries – On October 26, 2017, Union Shipping Ministryannounced that it has sanctioned Rs 25 crore to the Jawaharlal Nehru Port Trust and another Rs 50 crore to the Karwar port in Karnataka for coastal berth related development work.
  • 23 projects worth Rs 1075.61 crore have been approved, for which financial assistance of Rs 390.42 crore will be provided.
  • Besides, another 24 projects are under various stages of development and process of approval.
  • On completion, these projects will help to promote coastal shipping along India’s 7500 km long coastline. Besides bringing in cost-effectiveness, Coastal shipping’s increased share in domestic cargo movement will also decongest Indian rail and road network.