Union Minister for Ports, Shipping & Waterways, Shri Sarbananda Sonowal, praised the Union Budget 2024 presented in Parliament today.
Describing it as a ‘visionary document,’ Shri Sonowal stated, “The Union Budget 2024 outlines a comprehensive roadmap for renewed and inclusive growth towards a developed Bharat. This budget focuses on empowering the poor, women, youth, and farmers, ensuring development reaches every citizen. The budget’s four themes and nine priorities will benefit all societal segments. I thank Prime Minister Shri Narendra Modi and Finance Minister Shri Nirmala Sitharaman for their visionary approach, emphasizing employment, skill development, MSMEs, agriculture, investment-led growth, and inclusivity.”
Regarding Ports, Shipping & Waterways, Shri Sonowal commented, “This budget will significantly advance India’s shipping, cruise, shipbuilding, and repair industries, creating jobs, boosting exports, and driving economic growth. Under PM Narendra Modi’s leadership, we aim to position India as a global maritime leader by 2024-25. Reforms in shipping are expected to enhance employment and strengthen maritime capabilities. Simplified GST and other reforms will improve export competitiveness, reduce logistics costs, and make India’s shipbuilding and repair sectors more competitive.
Shri Sonowal continued, “The budget’s measures and our ministry’s initiatives aim to propel India from 18th to 5th place in global ship tonnage and from 22nd to 5th in shipbuilding by 2047. This will attract foreign investment, create jobs in the manufacturing sector, and support MSMEs. Our goal is to develop India as a prime cruise tourism destination and boost the cruise sector. Our ministry is committed to transforming India’s maritime industry through strategic reforms, innovative policies, and sustainability.”
On provisions for Northeast India, Shri Sonowal noted, “Under PM Modi’s leadership, Northeast India is realizing its potential as a key player in the country’s economic growth. With over 100 India Post Payment Bank branches, financial inclusion will reach remote areas, ensuring direct benefits to residents. The Pradhan Mantri Janjatiya Unnat Gram Abhiyan will cover over 63,000 villages and benefit more than 5 crore tribal people, improving their standard of living. Additionally, the budget addresses the pressing issue of flooding in Assam, with provisions for flood management and related projects, offering relief to those affected. I express my gratitude to PM Modi for addressing a long-standing need for Assam.”
