IWAI to raise funds for expansion of waterways | Current Affairs, Current Affairs 2017

IWAI to raise funds for expansion of waterways

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IWAI Chairman Amitabh Verma The Inland Waterways Authority of India (IWAI) will raise Rs 1,000 crore in the next two months to fund expansion of the country’s inland waterways through government-serviced bonds, IWAI Chairman Amitabh Verma said on Tuesday.

Inaugurating “National Maritime Conclave 2017” here, Verma said that the IWAI has planned to roll out bonds worth Rs 500 crore after budget proposals for the next fiscal

year are announced.

He said the IWAI expects budgetary support and extra budgetary allocations for the development of waterways across the country to the tune of Rs 4,000 crore in the next financial year.

Verma also informed that the IWAI is developing 111 waterways, development for eight of which would be taken up in the current year and 12 each in subsequent two years.

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