Union Budget 2024: A Visionary Blueprint Boosting India's Maritime Ambitions

Union Minister Sarbananda Sonowal praises Union Budget 2024 for its focus on rejuvenating India's maritime sector and fostering inclusive growth. The comprehensive budget aims to empower various societal sections while elevating India as a global maritime powerhouse. Key reforms target employment, shipbuilding, and cruise tourism growth.

Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal, hailed the Union Budget 2024 as a 'visionary document' aimed at steering India towards holistic growth. He noted that the budget paves the way for 'Viksit Bharat' by empowering the poor, women, youth, and farmers, ensuring development reaches every citizen.

Sonowal lauded the budget's themes and priorities, emphasizing its potential to benefit all societal segments. He expressed gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for focusing on employment, skill development, MSMEs, agriculture, and investment-led economic growth. Highlighting the maritime sector, Sonowal said the budget would enhance India's shipping, cruise, shipbuilding, and repair industries, boosting jobs and exports and contributing to economic growth.

The budget aims to position India as a global leader in maritime innovation and sustainability. Shipping reforms are expected to create significant employment and strengthen maritime capabilities. Simplifying GST will enhance export competitiveness and reduce logistics costs. Sonowal stressed the cumulative impact of these changes, aiming to propel India from rank 18 to top 5 in global ship tonnage by 2047, and from rank 22 to top 5 in shipbuilding, attracting foreign investment and creating numerous jobs. The budget also focuses on cruise tourism, aiming to make India an attractive destination for global tourists and popularize it among Indian tourists.

(With inputs from agencies.)