Question: The proposal for allocation of 2.5 percent of Central Road Fund for development of National Waterways was made by…
a) Ministry of Shipping
b) Ministry of Road Transport & Highways
c) Both (a) and (b)
d) None of the above
Ans: (c)
- The Union Cabinet chaired by Prime Minister Narendra Modi approved a proposal to allocate 2.5 per cent of the proceeds of Central Road Fund (CRF) for development and maintenance of National Waterways (NWs).
- The proposal was jointly mooted by the Ministry of Shipping and the Ministry of Road Transport & Highways for amendment of Central Road Fund Act, 2000 to enable this allocation.
- The Cabinet has also directed to explore done on public private partnership option and government funding should be used only if private investment is not forthcoming for any component.
- 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 per cent of CRF proceeds would provide approximately Rs.2000 crore per annum for the development and maintenance of NWs at existing rates of duties.
- The Inland Waterways Authority of India (IWAI) has estimated that approximately Rs. 25,000 crore would be required for development of identified projects on NWs till 2022-23.
Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=162091