Coastal shipping to be promoted through PPP mode with viability gap funding, says Nirmala Sitharaman in Budget speech

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By  India Blooms News Service   Feb 01, 2023

New Delhi: India is moving forward firmly for the panchamrit and net-zero carbon emission by 2070 to usher in green industrial and economic transition, Union Finance Minister Nirmala Sitharaman tells in her Budget speech on Wednesday.

This Budget builds on Indias focus on green growth, she said.

Coastal Shipping

Speaking in line with green growth, Smt Sitharaman proposed that coastal shipping will be promoted as the energy efficient and lower cost mode of transport, both for passengers and freight, through PPP mode with viability gap funding.

The Finance Minister also mentioned that the states will be supported in replacing old vehicles and ambulances. A part of the States outlay of fifty year loan to be spent on capital expenditure is also linked or allocated for scrapping old government vehicles as one of the seven purposes.

Sitharaman further stated that replacing old polluting vehicles is an important part of greening our economy. In furtherance of the vehicle scrapping policy mentioned in Budget 2021-22, adequate funds have been allocated to scrap old vehicles of the Central Government.