Budget 2014: FM Arun Jaitley proposes 16 new port projects

MUMBAI: Finance Minister Arun Jaitley, in its first budget after BJP's victory in May, said India will get 16 new port projects this year, with a focus on their connectivity to the hinterland.

India currently has 13 major ports. Jaitley also reiterated previous government's plan to spend Rs 11,635 crore to develop the phase one of the outer harbour project in VO Chidambaranar Port Trust at Tuticorin.

The FM also said special economic zones will be developed along the existing major ports, Kandla in Gujarat and Jawaharlal Nehru Port Trust in Mumbai.

He said a comprehensive policy will also be announced to promote the struggling shipbuilding industry in India this financial year.

He said India will also develop an inland waterway system in river Ganga from Allahabad in Uttar Pradesh to Haldia in West Bengal, which will be build over the next 6 years at an estimated cost of Rs 4,200 crore.