Cabinet has approved allocation of 2(point)5 per cent of Central Road Fund for development and maintenance of National Waterways by amending in the Central Road Fund Act, 2000 to boost inland water transport.
An allocation of 2.5 per cent will provide about 2000 crore rupees per annum for the development and maintenance of National Waterways. It is estimated that 1.8 lakh persons would be provided employment in the Inland Waterways Transport sector in the next five years.
The Central Road Fund (Amendment) Bill, 2017 will be moved in the ensuing Monsoon Session of the Parliament. The Cabinet has also directed that while implementing viable National Waterways projects, all such components that can be done on Public Private Partnership basis, should be explored.
The Inland Waterways Authority of India has estimated that about 25 thousand crore rupees will be required for development of identified projects till 2022-23.