India announces plans to build new ports

The Indian government has announced that it will invest Rs 800 crore (US$118m) for the development of new ports and ongoing work on its National Waterways project during the next fiscal year.

The country’s finance minister Arun Jaitley said in a speech presenting the 2016-17 fiscal budget that the government has plans to develop new greenfield ports on both the country’s coasts.

As Jaitley added, work on the National Waterways project, which proposes to “have national waterways covering the entire nation just like national highways”, is being “expedited”.