{"id":80059,"date":"2025-12-28T11:34:55","date_gmt":"2025-12-28T06:04:55","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=80059"},"modified":"2025-12-29T15:36:50","modified_gmt":"2025-12-29T10:06:50","slug":"shipbuilding-financial-assistance-scheme","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/shipbuilding-financial-assistance-scheme\/","title":{"rendered":"Shipbuilding Financial Assistance Scheme"},"content":{"rendered":"<h2><b>Shipbuilding Financial Assistance Scheme Latest News<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Recently, the Ministry of Ports, Shipping &amp; Waterways (MoPSW) notified the operational guidelines for two major shipbuilding initiatives\u2014the Shipbuilding Financial Assistance Scheme (SBFAS) and the Shipbuilding Development Scheme (SbDS).<\/span><\/p>\n<h2><b>About Shipbuilding Financial Assistance Scheme<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is aimed at <\/span><b>strengthening India\u2019s domestic shipbuilding capacity<\/b><span style=\"font-weight: 400;\"> and improving global competitiveness.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Time Period:<\/b><span style=\"font-weight: 400;\"> It will remain valid until <\/span><b>March 31, 2036.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Nodal Ministry:<\/b><span style=\"font-weight: 400;\"> Ministry of Ports, Shipping &amp; Waterways<\/span><\/li>\n<\/ul>\n<h2><b>Features of Shipbuilding Financial Assistance Scheme<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Financial Assistance:<\/b><span style=\"font-weight: 400;\"> The government will provide <\/span><b>financial assistance ranging from 15% to 25%<\/b> <b>per vessel,<\/b><span style=\"font-weight: 400;\"> depending on the vessel category.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Graded Support:<\/b><span style=\"font-weight: 400;\"> The scheme introduces <\/span><b>graded support for small normal, large normal and specialised vessels,<\/b><span style=\"font-weight: 400;\"> with stage-wise disbursement linked to defined milestones and backed by security instruments.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Shipbreaking Credit Note:<\/b><span style=\"font-weight: 400;\"> Under this, ship owners scrapping vessels at Indian yards will receive a credit equivalent to <\/span><b>40% of the scrap value.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It provides for the establishment of a <\/span><b>National Shipbuilding Mission<\/b><span style=\"font-weight: 400;\"> to ensure coordinated planning and execution of shipbuilding initiatives.<\/span><\/li>\n<\/ul>\n<h3><b>Key Facts about Shipbuilding Development Scheme<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It focuses on long-term capacity and capability creation.<\/span><\/li>\n<\/ul>\n<h3><b>Features of Shipbuilding Development Scheme<\/b><\/h3>\n<ul>\n<li><b>Infrastructure Development:<\/b><span style=\"font-weight: 400;\"> It provides for the <\/span><b>development of greenfield shipbuilding clusters<\/b><span style=\"font-weight: 400;\">, <\/span><b>expansion <\/b><span style=\"font-weight: 400;\">and modernisation of <\/span><b>existing brownfield shipyards<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li><b>India Ship Technology Centre:<\/b><span style=\"font-weight: 400;\"> It is to be established under the <\/span><b>Indian Maritime University<\/b><span style=\"font-weight: 400;\"> to support research, design, innovation and skills development.<\/span><\/li>\n<li><b>Funding<\/b>\n<ul>\n<li><b>Greenfield shipbuilding<\/b><span style=\"font-weight: 400;\"> clusters will receive <\/span><b>100% capital support<\/b><span style=\"font-weight: 400;\"> for common maritime and internal infrastructure through a <\/span><b>50:50 Centre\u2013State special purpose vehicle<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li><b>Brownfield expansion<\/b><span style=\"font-weight: 400;\"> will be eligible for <\/span><b>25%<\/b><span style=\"font-weight: 400;\"> capital assistance for brownfield infrastructure such as dry docks, shiplifts etc.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Credit Risk Coverage:<\/b><span style=\"font-weight: 400;\"> The scheme also includes a Credit Risk Coverage Framework, offering government-backed insurance for pre-shipment, post-shipment and vendor-default risks.<\/span><\/li>\n<\/ul>\n<p><b>Source: <\/b><strong><a href=\"https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=2209139&amp;reg=3&amp;lang=1\" target=\"_blank\" rel=\"nofollow noopener\">PIB<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Shipbuilding Financial Assistance Scheme is aimed at strengthening India\u2019s domestic shipbuilding capacity and improving global competitiveness. Read more about Shipbuilding Financial Assistance Scheme, Features, News<\/p>\n","protected":false},"author":24,"featured_media":80268,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[21,4467,22,23],"class_list":{"0":"post-80059","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"tag-prelims-pointers","9":"tag-shipbuilding-financial-assistance-scheme","10":"tag-upsc-current-affairs","11":"tag-upsc-prelims-current-affairs","12":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/80059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=80059"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/80059\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/80268"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=80059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=80059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=80059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}