The government has allocated Rs 800 crore next fiscal year for development of new ports and ongoing work on its National Waterways project, finance minister Arun Jaitley said Monday in his speech presenting the fiscal budget for 2016-17.
“In 2015, India’s major ports have handled the highest ever quality of cargo. We have also added the highest ever capacity in major ports. We have started a series of measures for modernizing the ports and increasing their efficiency. The Sagarmala project has already been rolled out. We are planning to develop new greenfield ports both in the eastern and western coasts of the country. The work on the National Waterways is also being expedited. (Rs) 800 crore has been provided for these initiatives,” Jaitley said in his speech.