CURRENT AFFAIRS
CURRENT AFFAIRS
Description
India has recently introduced new regulations aimed at accelerating infrastructure development along its national waterways. The National Waterways (Construction of Jetties/Terminals) Regulations are designed to simplify the process of establishing jetties and terminals by various stakeholders. These regulations are expected to attract private investment and improve the efficiency of logistics across the country’s vast network of waterways.
Key Aspects Of Regulations
Under the new regulations, any entity looking to develop or operate a terminal must secure a No Objection Certificate (NoC) from the Inland Waterways Authority of India (IWAI). This requirement applies to both new and existing terminals, whether they are intended to be permanent or temporary. Permanent terminals can be operated indefinitely by the entity, while temporary terminals are granted a five-year term with the possibility of extensions.
Digital Application Platform
IWAI is working on the development of an online portal to streamline the application process for terminal developers. This digital platform is designed to improve efficiency and transparency, in line with the government's goal to enhance the Ease of Doing Business (EODB). The portal will allow applicants to submit applications and monitor their progress in real time.
Promoting Private Sector Participation
IWAI has made significant strides in positioning waterways as a critical component of India's economic growth. The volume of cargo transported via national waterways surged from 18 million tonnes to 133 million tonnes in fiscal year 2023-24. This growth forms part of a larger strategy to foster sustainable development and increase private sector involvement in the sector.
Jalvahak Scheme
The newly launched Jalvahak Scheme aims to encourage a shift in cargo transport. The initiative’s goal is to move about 17% of the current 4,700 million tonne-kilometres of cargo onto national waterways. This initiative is expected to further boost private sector engagement in the development of inland waterways.
Economic Implications
The implementation of these regulations is anticipated to lower transportation costs and improve the overall efficiency of cargo movement. By facilitating the establishment of jetties and terminals, the regulations are poised to position the inland waterways sector as a key driver of economic growth in India.
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