New Delhi, Feb 28: Finance Minister P Chidambaram has proposed to increase Plan allocation for the Department of Shipping by 37 per cent to Rs 735 crore.
While presenting the General Budget 2006-07 in the Lok Sabha, today (Feb 28, 2006), he informed that the National Maritime Development Programme (NMDP) has been approved by the Government. The port sector alone will require Rs 55,804 crore. Work is in progress in 101 projects covering inland waterways, shipping and ports which include deepening of channels in Kandla, JNPT and Paradip.
Underlining the need for a deep draft port in the eastern part of the country Mr Chidambaram has announced that it was proposed to carry out a detailed study to identify a suitable location for a new deep draft port in West Bengal. He further stated that the existing National Institute of Port Management, Chennai, has been renamed as the National Maritime Academy. It is proposed to upgrade it into a Central University, with regional campuses at Mumbai, Kolkata and Visakhapatnam, under an Act of Parliament, he added.