Launch of Coastal Cargo Promotion Scheme in Union Budget 2026

The Union Budget 2026 introduced the Coastal Cargo Promotion Scheme aimed at increasing the share of inland waterways and coastal shipping in India from 6% to 12% by 2047. The scheme is currently in the formation stage and includes measures such as concessions on port charges, priority berthing for coastal vessels, reduced GST on bunker fuel for Indian-flag vessels, and completion of various infrastructure projects to enhance coastal ferry services.

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