The
Inland Vessel subsidy Scheme has been introduced by the Ministry
of Shipping which would be applicable to both cargo and passenger
inland vessels as well as other inland vessels meant for operation
in National Waterways, Sunderbans Waterways and Indo-Bangladesh
Protocol routes. The scheme will remain in force upto March 2007.
The subsidy payable
under this scheme would be equal to 30% of the ex-factory price
of the inland vessel and will be available only for vessels acquired
by an Indian inland water transport entrepreneur from a shipyard
in India. The scheme would be operated as a credit linked subsidy
scheme under which a part of cost of construction would be met
by financial institutions/banks. The amount of subsidy admissible
would be deposited with financial institution/bank directly on
fulfillment of all the conditions and completion of construction
of vessels laid down in the scheme for claiming the subsidy. Advisory
Committees have been constituted for considering the eligibility
of vessels for subsidy and processing of the applications received
from the entrepreneurs.
A claim for release
of subsidy with respect to approved proposal is to be submitted
to the Chairman, Inland Waterways Authority of India, A-13, Sector-01,
NOIDA-201301 within a period of 90 days from the date of taking
delivery of the vessel for which subsidy is claimed along with
the registration certificate and the certificate from builder
about completion of vessel.
The Ganga from Haldia
to Allahabad(1620 Km), the Brahmaputra from Dhubri to Sadiya (891
Km) and the West Coast Canal from Kottapuram to Kollam along with
Champakara and Udyogmandal canals (205 Km) have been declared
a National Waterways. Infrastructural facilities such as fairway,
terminals and navigational aids are being provided in the three
National Waterways to facilitate efficient shipping and navigation.
With these facilities, the IWT mode with the inherent advantage
of fuel efficiency can provide an efficient and economic transportation
facility, which in turn would facilitate substantial shift of
cargo to this mode.
