- Q. - The Union Cabinet has approved how much percentage of Central Road Fund (CRF) for development and maintenance of National Waterways (NWs)?
Description Of This Question
The Union Cabinet chaired by PM Narendra Modi has approved the allocation of 2.5% of Central Road Fund (CRF) for development and maintenance of National Waterways (NWs) by amending in the Central Road Fund Act (CRFA), 2000 will provide about Rs. 2000 crore per year to boost inland water transport. In addition to giving a boost to the economy, the policy is expected to provide employment in the Inland Waterways Transport sector as well. It is estimated that 1.8 lakh persons would be provided employment in the Inland Waterways Transport sector in the next 5 years. Jobs are expected to be created for operation, management of fairway, terminals, barges, training aids to navigation. Currently, there are five existing NWs and 106 new NWs. The Central Road Fund (CRF) is a duty on excise and customs levied on petrol and high-speed diesel.