Inland waterways projects in need of funds inflows
Govt is also expected to continue its focus on improving connectivity across India, says rating agency Icra
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Mumbai: An increased budgetary support from the government for flagship projects including Sagarmala and inland waterways will provide a boost to the execution pace and investments, domestic ratings agency Icra said on Monday in its pre-budget expectations note on ports, shipping and logistics sectors. According to the ratings agency, the government is also expected to continue its focus on improving connectivity across India and speedy implementation of projects like Bharatmala for the road logistics sector, dedicated freight corridor (DFC) for the railways and Sagarmala for the waterways.
The Union government is set to present Budget 2022-23 on February 1. There has been a traction in policy initiatives for the ports sector in the current fiscal with the operationalisation of the Indian Major Ports Act, 2021 and notification of market-based tariffs under the Act, notification of the revised Model Concession Agreement for PPP projects and passage of the Inland Vessel Act, 2021 in both houses of Parliament, Icra said.
While these measures are favourable for the sector and will aid in attracting private sector investments, increased budgetary support from the government for flagship projects such as Sagarmala, inland waterways, among others, will provide a boost to the execution pace and investments, it stated.
