Question: What percentage of Foreign Direct Investment (FDI) is allowed in public-private partnership (PPP) projects in the port sector?
(a) 100%
(b) 75%
(c) 49%
(d) 26%
Answer- (a)
Related Facts:
- On December 20th, 2017, year end review of Ministry of Shipping was released.
- The main facts related to this are as follows:
- Over all the ports in India handle 90% by volume and 70% by value of India’s external trade.
- With a view to promote Port led development, the Sagarmala Programme was approved by the Cabinet on 25-03-2015.
- Under this flagship initiative142 Port Projects involving an investment of around Rs. 91,434 crore for capacity enhancement have been identified for implementation during the next 10-15 years.
- 100% FDI is being allowed in PPP Projects in the Port Sector.
- A new Major Ports Authorities Bill, 2016 to replace the existing Major Port Trusts Act, 1963 with a view to provide greater autonomy and modernization of institutional structure has been introduced in the Lok Sabha on 16.12.2016.
- On September 24th 2017, notification was issued to change the name Kandla Port to Deendayal Port in recognition of the invaluable contribution and sacrifices made by Pandit Deendayal Upadhaya towards serving the nation.
- Major Ports are taking up renewable energy projects to generate more than 150 MW (solar & wind energy) in the next five years.
- 15 MW Solar and 6 MW Wind Powers has already been commissioned in the Major Ports during 2016-17.
- 91.5 MW Solar and 45 MW Wind Powers is expected to be achieved by the end of 2018.
- India is also engaged in the development of Chahbahar Port in Iran.
- A MoU has been signed between the two countries in this regard.
- Inauguration ceremony of the Phase-I of Shahid Beheshti Port at Chabahar, Iran was held on December 3rd, 2017 by the Hon’ble President of Iran.
- ‘Jal Marg Vikas’ (National Waterway-I: River Ganga) Project envisages to develop a fairway with upto 3 meters depth between Varanasi and Haldia covering a distance of 1380 kms at an estimated cost of Rs. 5369 crore.
- Multi-model terminal is being established in Varanasi, Sahibganj and Haldia.
- On October 3rd, 2017, the foundation stone of the first phase was carried out by National Vice-President Venkaiah Naidu from National Waterway-4 Mukti Mala to Vijayawada.
- Mandovi, Zuari, Camberjua, Barak, Gandak, Rupnarayan, Alappuzha-Kottayam-Athirampuzha Canal and Sunderbans National Waterways were considered for development during 2017-18.
- A Freight Village and Logistics Hub to improve logistics efficiency is proposed to set up in Varanasi in continuation of the multi-modal terminal under construction as part of the Jal Marg Vikas Project.
- International movement of cargo has commenced on NW-16 (River Barak).
- On April 8, 2017Agreement on passenger and cruise service on coastal routes between India and Bangladesh.
- On 9th August, 2017, ‘The Admiralty (Jurisdiction and Settlement of Maritimes Collections) Act, 2017’ came into effect.
- 18 July 2017, the Standing Committee of Parliament presented its recommendations on ‘Merchant Shipping Bill, 2016’.
- For the promotion of indigenous shipbuilding by the Government of India
4000 crores ‘Ship’ building financial assistance policy has been released for 10 years (2016-2026). - On November 17, 2017, Shipping Minister laid the foundation of ‘International Ship Repair Facility’ at Cochin Port Trust, Kochi.
- On December 1st, 2017, the member re-elected under the India International Marine Organization (IMO) Council B category.
- On 25th January, 2017, an agreement was signed on maritime transport between India and the United Arab Emirates.
- On April 28th, 2017 Agreement between Merchant Shipping between India and Cyprus was signed.
- On October 11th, 2017, bilateral cooperation between the two countries of India and the Netherlands, ports, maritime transport and logistics was extended for the next three years.
- On July 14th, 2017, New Merchant Shipping (Continuous Discharge Certificate) Rules, 2017 have been notified.
Government has constructed new cruise terminals at Mormugao port and Chennai Port to develop cruise shipping and tourism in the country.
Reference:
http://pib.nic.in/PressReleseDetail.aspx?PRID=1513281