On February 1, Finance Minister Nirmala Sitharaman presented the Union Budget for 2026-27 in Parliament, unveiling significant developments for the maritime sector. Initially focused on cargo logistics, the budget shifted its emphasis to enhancing inland waterways and introducing seaplanes.
To foster environmentally sustainable cargo transportation, Sitharaman outlined several key initiatives. First, new freight corridors will be established, linking Dhankuni in the East to Surat in the West. Additionally, the government plans to operationalize 20 new waterways over the next five years, beginning with NW-5 in Odisha, which aims to connect mineral-rich and industrial regions to major ports like Paradip and Damra.
Moreover, the budget includes provisions for setting up training centers to equip the workforce for inland waterways, benefiting local youth along these routes. A ship-repair ecosystem will also be developed in Varanasi and Patna to support inland water transport. To encourage a modal shift from rail to road, a coastal cargo promotion scheme will be introduced, aiming to increase the share of inland waterways and coastal shipping from 6% to 12% by 2047. Lastly, the promotion of indigenous manufacturing of seaplanes is intended to enhance remote connectivity and boost tourism.
