Why in the News?
The Ministry of Ports Shipping and Waterways notified operational guidelines for the Shipbuilding Financial Assistance Scheme (SBFAS) and the Shipbuilding Development Scheme (SbDS).
Shipbuilding Financial Assistance Scheme (SBFAS)
- Objective Strengthen domestic shipbuilding and global competitiveness
• Valid till 31 March 2036
• Financial assistance 15 to 25 percent per vessel based on vessel category
• Graded support for small normal large normal and specialised vessels
• Stage wise disbursement linked to milestones
• Shipbreaking Credit Note provides 40 percent of scrap value for vessels scrapped in Indian yards
• Provision for National Shipbuilding Mission
Shipbuilding Development Scheme (SbDS)
- Focus on long term capacity and capability creation
• Greenfield shipbuilding clusters and brownfield yard expansion
• India Ship Technology Centre under Indian Maritime University
• Greenfield clusters get 100 percent capital support via 50 50 Centre State SPV
• Brownfield projects get 25 percent capital assistance
• Includes Credit Risk Coverage Framework for pre shipment post shipment and vendor default risks
| Consider the following pairs: [2023]
1. Kamarajar Port: First major port in India registered as a company. 2. Mundra Port: Largest privately owned port in India. 3. Visakhapatnam Port: Largest container port in India. How many of the above pairs are correctly matched? (a) Only one pair (b) Only two pairs (c) All three pairs (d) None of the pairs |
Get an IAS/IPS ranker as your 1: 1 personal mentor for UPSC 2024
