Sagarmala is the flagship regime of the central sector of the Ministry of Ports, Navigation and Waterways to promote port-led development in the country. On 05.04.2023, the ministry released the revised guidelines for the financing of Sagarmala. According to the revised funding guidelines, the contribution of the fund from the Sagarmala program (from the budget of the Ministry of Ports, Navigation and Waterways) in any project will be limited to 50% of the estimated cost of the project as per the DPR or contracted cost, whichever is lower. However, the Ministry of Ports, Navigation and Waterways can provide 100% financial assistance for any project based on the uniqueness, strategic nature, need, merits, financial condition of the major port, etc. subject to the approval of the minister in charge of the ministry of ports, navigation and waterways.
This information was given today by the Union Minister for Ports, Navigation and Waterways, Shri Sarbananda Sonowal, in a written response to the Rajya Sabha.
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MJPS/NSK