Subsidiaries to develop inland waterways will facilitate easy foreign fundingThe Centre is framing a policy to enable all major ports to set up subsidiary companies to develop inland waterways. “As nobody will give loans to inland waterway projects, we will use the financial credential of ports, which will set up subsidiary companies for developing inland waterway projects. JNPT will develop waterways on seven to eight rivers in Maharashtra which flow from Madhya Pradesh. Goa Port will be the next to follow and will develop inland waterways on two rivers. The shipping ministry has also urged the finance ministry to allocate 5 per cent of the money collected as cess on diesel and petrol for inland waterways.

Source: The Hindu August 22, 2016 17:26 UTC