New Delhi, Jan 24 (IANS) 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.
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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