(a) whether the Government have formulated a comprehensive scheme to convert two shipping yards of public sector of the country into world level shipping and maintenance yards; and
(b) if so, the details thereof?
(a) whether the Government have formulated a comprehensive scheme to convert two shipping yards of public sector of the country into world level shipping and maintenance yards; and
(b) if so, the details thereof?
MINISTER OF STATE IN THE MINISTRY OF SHIPPING (SHRI HUKUMDEO NARAYAN YADAV)
(a) & (b): No sir. However, in order to ensure level playing field and to improve competitiveness of Central Public Sector Shipyards in the Global Market, Government has evolved 30% subsidy scheme on Shipbuilding orders, both domestic and export of ocean going vessels. Besides Shipping Companies placing on such yards can also raise funds either from External Commercial Borrowings (ECB) or from Indian Financial Institutions. An interest differential subsidy is also admissible to the permissible extent, if funds are raised from Indian Financial Institutions.