Relevance for Banking, SSC & RBI Grade B exams: Polity & Governance
Union Minister Sarbananda Sonowal has presented a plan to double the share of coastal and waterway freight in India’s freight movement to 12% by 2047, up from the current 6%. This ambitious target, announced during a Consultative Committee meeting in Puri, Odisha, is part of a broader government initiative to transform India’s maritime sector. Key proposals include the Coastal Cargo Incentive Scheme and the Cruise India Mission, which aim to attract 1 million sea cruise passengers by 2029 and are expected to create over 560,000 jobs and save 16 million metric tons of carbon dioxide emissions. Additionally, the Puri International Cruise Terminal will be developed by Paradip Port Authority in partnership with the Odisha government at an estimated cost of approximately 1,500 crore rupees, further highlighting the government’s focus on bolstering coastal and cruise shipping infrastructure.
For aspirants of Bank PO, IBPS, SBI, RBI Grade B, and SSC exams, this initiative holds significant relevance across various subjects. In Polity & Governance, it demonstrates the government’s strategic planning and policy implementation for infrastructure development and economic growth, highlighting inter-ministerial coordination and public-private partnerships. Economically, the projected job creation, carbon emission savings, and increased freight movement via waterways point to sustainable development and economic efficiency, which are crucial topics for understanding national development goals. Furthermore, the financial outlay for projects like the Puri International Cruise Terminal (1,500 crore rupees) and the National Waterway No. 5 (over 13,000 crore rupees) provides concrete examples of large-scale government expenditure and investment in infrastructure, relevant for banking and financial awareness sections of these exams.
Source: PIB (Press Information Bureau)
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