Coastal shipping to be promoted through PPP mode with viability gap funding, says Nirmala Sitharaman in Budget speech
New Delhi: India is moving forward firmly for the ‘panchamrit’ and net-zero carbon emission by 2070 to usher in green industrial and economic transition, Union Finance Minister Nirmala Sitharaman tells in her Budget speech on Wednesday.
This Budget builds on India’s focus on green growth, she said.
Coastal Shipping
Speaking in line with green growth, Smt Sitharaman proposed that coastal shipping will be promoted as the energy efficient and lower cost mode of transport, both for passengers and freight, through PPP mode with viability gap funding.
The Finance Minister also mentioned that the states will be supported in replacing old vehicles and ambulances. A part of the State’s outlay of fifty year loan to be spent on capital expenditure is also linked or allocated for scrapping old government vehicles as one of the seven purposes.
Sitharaman further stated that replacing old polluting vehicles is an important part of greening our economy. In furtherance of the vehicle scrapping policy mentioned in Budget 2021-22, adequate funds have been allocated to scrap old vehicles of the Central Government.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Narendra Modi praises Donald Trump as Hamas agrees to release Israeli hostages
PM Modi to unveil ₹62,000 crore youth-centric initiatives tomorrow; big push for education, jobs
'Will erase from map if terror continues': Army Chief’s stern warning to Pakistan
'Accept by Sunday 6 pm or all hell will break loose': Donald Trump issues ultimatum to Hamas
