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The Union Budget has allocated INR 616.88 crore for the Sagarmala programme, slightly lower than last year's revised estimates of INR 699 crore and previous projections of INR 866 crore. The Budget also sets aside INR 1,000 crore for the newly approved Maritime Development Fund to support shipbuilding, port development, and maritime financing. Additional allocations include INR 515 crore under the Shipbuilding Financial Assistance Scheme and INR 250 crore for the Shipbuilding Development Scheme. These provisions aim to strengthen infrastructure, capacity, and risk management in India's maritime and shipbuilding sectors.
The Union Budget has earmarked INR 616.88 crore for the Sagarmala programme for the upcoming financial year, reflecting a reduction compared with the revised estimates of INR 699 crore and earlier projections of INR 866 crore. Sagarmala, the Ministry of Ports, Shipping and Waterways' flagship initiative, focuses on modernising port infrastructure, improving logistics, promoting coastal shipping, and developing inland waterways. The programme had previously received INR 658.29 crore in actual allocation, highlighting a slight recalibration in funding for the year ahead. Advertisement
The Budget also includes INR 1,000 crore for the Maritime Development Fund, which was approved by the Union Cabinet last year. The fund is intended to provide dedicated financing support for maritime projects, including shipbuilding, port infrastructure, and ship repair activities, aiming to enhance the competitiveness of India's maritime sector on a global scale.
Support for shipbuilding is further strengthened with INR 515 crore allocated under the Shipbuilding Financial Assistance Scheme. This scheme provides financial aid to shipyards for constructing vessels and reimburses credit notes issued during shipbreaking against new shipbuilding orders placed at eligible Indian yards. The initiative aims to encourage domestic shipbuilding and improve the production capacity of Indian shipyards.
An additional INR 250 crore is allocated under the Shipbuilding Development Scheme. These funds are designated to enhance infrastructure at new shipbuilding clusters, expand brownfield capacities, and cover insurance for pre- and post-shipment risks, as well as vendor defaults. The scheme also supports the India Ship Technology Centre and capability development initiatives for domestic shipyards, strengthening overall sector resilience and competitiveness.
Combined, these allocations indicate the government's sustained focus on maritime infrastructure and the shipbuilding ecosystem, while adjusting budgetary support to align with fiscal priorities. By balancing funding for operational programmes and infrastructure development, the Budget reflects a measured approach to advancing India's maritime ambitions.
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