2.5% of Central Road Fund to be utilized for National Waterways development
Union Cabinet has approved allocation of 2.5% of the Central Road Fund for development and maintenance of National Waterways. Briefing media persons after the Cabinet Meeting in New Delhi today, Finance Minister Arun Jaitley, said this would be done by amending the Central Road Fund Act 2000.
Central Road Fund is created by levying a cess of Rs 6 per litre of petrol sold. CRF till now is being utilized for development and maintenance of national highways, state highways as well as rural roads.
Today’s cabinet decision would provide approximately Rs 2,000 crores per annum for development and maintenance of National Waterways. Rs 80,800 crores was collected under the Central Road Fund during 2016-17. ,
The government has planned to develop 24 National Waterways over the next three years, based on technical and economic viability. These include development of waterways in Amba River, Savitri River, Dabhol creek and Revdanda creek in Maharashtra, and Zuari and Mandovi rivers in Goa.
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