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Explained | What is Inland Vessels Bill 2021 and how does it benefit the country?

The government expects the new law to remove bottlenecks for vessel movement within the country but experts say that while this would benefit MSMEs, Indian waterways need to be developed further and made navigable throughout the year for proper industrial use

July 30, 2021 / 05:46 PM IST
Source: Reuters

Source: Reuters

The Inland Vessels Bill, 2021 that was passed by Lok Sabha on July 21, will help domestic cargo movement with potentially lower rates, which is expected to help small businesses.

The proposed law is in line with the Narendra Modi government’s aim to develop inland ports and harness India’s 7,500km coastline and potentially navigable waterways.

The government expects its programme to create 1 crore new jobs, including direct employment of 40 lakh people, in the next 10 years, reduce logistics costs and speed up cargo movement.

The new law will replace the century-old Inland Vessels Act of 1917 for the regulation of security, safety as well as registration of inland vessels.