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New Delhi : The Union Cabinet chaired by PM Narendra Modi on May 24, 2017, accorded its approval to a proposal jointly mooted by the Ministry of Shipping and the Ministry of Road Transport & Highways (MoRTH) for amendment in Central Road Fund Act, 2000, to allocate 2.5% of the proceeds of Central Road Fund (CRF) for development and maintenance of National Waterways (NWs) and a reduction in the share provided for development of National Highways.
The Cabinet has also directed that while implementing viable National Waterways projects, all such components that can be done on PPP basis, should be explored accordingly and government funding may be used only if private investment is not forthcoming for any component, according to a PIB release. The Central Road Fund (Amendment) Bill, 2017, would be moved by the Ministry of Road Transport & Highways in the ensuing Monsoon Session, 2017, of the Parliament.
An allocation of 2.5 % of CRF proceeds would provide approximately Rs 2,000 crore per annum for the development and maintenance of NWs. The Inland Waterways Authority of India (IWAI) has estimated that approximately Rs 25,000 crores would be required for development of identified projects on NWs till 2022-23, said the PIB release.
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