Maharashtra Govt Approves Shipbuilding Policy to Boost Maritime Infrastructure

What is the main goal of the Maharashtra Shipbuilding Policy 2025? A: The main goal of the Maharashtra Shipbuilding, Ship Repair, and Ship Recycling Facility Development Policy 2025 is to develop the state's maritime infrastructure, promote ship repair and recycling activities, and attract new projects. Q: How will the policy help the central government? A: The policy will help the central government earn valuable foreign exchange by boosting the shipbuilding, repair, and recycling industries. Q: What are the three development models outlined in the policy? A: The three development models outlined in the policy are maritime shipyard clusters, standalone shipyards, and developing shipyard projects at ports. Q: What financial incentives are offered to private entrepreneurs under the policy? A: Private entrepreneurs will receive capital subsidies of 15 per cent of the project cost, disbursed in four equal instalments during the construction phase. Additionally, developers or private entities setting up skill development facilities will receive 60 per cent of the project cost or Rs 5 crore, whichever is lower. Q: How will the policy impact employment in the state? A: The policy is expected to generate new employment opportunities by developing a skilled workforce at various levels, increasing cargo handling capacity, and attracting investments in the port sector.

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