Union Government to invite bids soon for 36 inland waterways
Posted on:11 Oct 2016 09:57:38
11 October 2016 Current Affairs GK: The Union Government is going to soon float tenders to invite bids for the development for 36 inland waterways projects in the first phase. This move will help to tap the huge potential in the so-far-untapped inland waterways transport segment despite India being endowed with natural rivers suitable for it.
Earlier, Parliament had enacted a legislation allowing 106 rivers across the country to be converted into National Waterways (NWs) in addition to the existing 5 such NWs.
The law was enacted in a bid to boost movement of goods and passengers via rivers and reduce transportation costs substantially.
It is environment-friendly and cost-effective mode of transportation. It will reduce the logistics costs significantly which are currently as high as 18% in India. India has huge natural geographical potential for inland waterways as 14,500 km of river channels are navigable.
Development inland waterways can spur industrial growth and tourism potential along the waterway especially in plain areas of North India.
The statutory status to the inland waterways would pave for investments in inland waterways transportation sector which has been neglected in the past. It would provide a cheaper mode of transport and reducing traffic burden and congestion on roads and railways.
FreshersLive - No.1 Job site in India. Fresherslive Current Affairs 2017 section offers informative quiz questions with answers regarding latest current affairs today for all sorts of competitive exams like UPSC, TNPSC , IFS, IAS, IPS, railway exams (RRB) and banking exams like IPBS PO, IPBS clerk, Federal Bank PO, ICICI, SBI, RBI legal officer & Grade officer posts and much more. Register with us to get latest Current Affairs Updates. Also get latest Current Affairs news and quiz Updates for free alerts daily through E-mail