Coastal Cargo Promotion: Government to roll out scheme worth over Rs 10,000 crore
The Ministry of Ports, Shipping, and Waterways has plans to roll out the Coastal Cargo Promotion Scheme (CCPS) with an outlay of Rs 10,012 crore. This is in line with this year's union budget plan to increase the share of coastal shipping from 6 per cent to 12 per cent by 2047.
As per ETInfra.com, the scheme comprises a coastal vessel operator incentive of Rs 7,969 crore and a cargo owner incentive of Rs 1,992 crore, both applicable for five years and extendable by another five years.
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