OREANDA-NEWS. March 10, 2015. The steps taken by the Government to fulfil the shortfall regarding target set for each port within the remaining period of Twelfth Five Year Plan:-

(i) Enhanced delegation of financial powers to Shipping Ministry to accord investment approval for PPP projects.

(ii) Upto 100% FDI under the automatic route is allowed for port development projects.

(iii) Income tax incentives are allowed as per Income Tax Act, 1961.

(iv) Bidding documents like RFQ, RFP and Concession Agreement have been standardized.

(v) Streamlining of security clearance procedures.

(vi) Close monitoring of developmental projects in the Major Ports.

This information was given by Minister of State for Ministry of Shipping Shri Pon Radhakrishnan in a written reply in Lok Sabha today.