WELCOME INITIATIVE BY GOVERNMENT TO BOOST SHIPPING SECTOR.
This is just a new beginning for Shipping and Maritime Sector - Capt. Sunil Nangia, CEO, and FOUNDER EDITOR of SAILOR TODAY. Mumbai: 2ndMarch 2015. UNION BUDGET 2015-2016 is just a new beginning for Shipping and Maritime Sector of India. We welcome initiatives by Government to boost Indian Shipping Sector. After almost one decade Government of India seems to have understood PORT Sector, which is the backbone of the economics of the Country, said Capt. Sunil Nangia. CEO, Founder Editor of Sailor Today.? However, concession and incentives for Ship building, Ship owners and Human Resources sections are to be looked upon, which are not considered in this budget.? Launching of national skill mission to consolidate skill initiatives spread across several ministries is a positive initiative for the youth of India. We are sure that Ministry of Shipping will encourage Indian youth to take advantage and benefit of this initiative by the Government. Capt. Nangia further said that Corporatization of the Government run Ports is a great and positive step towards improving efficiency in cargo handling and transparency in operations. Corporatization is a step in a right direction. It will give autonomy and allow governance to act independently in decision making, helping raising business and cash flows along with bring in fiscal responsibility. It will speed up the decision making process of the Ports and diminish rigid permissions to be taken for making decisions. Exemption of Service Tax on the construction, erection, commissioning and installing of original works for Ports has been withdrawn in the budget. This will lead to operator?s cost of the ports, a majority of which will get passed on through traffic hikes. Corporatization of Government runs major Ports will be encouraged and allow to access private capital markets and provide greater financial autonomy i.e. Public-Private partnership. Establishment and creation of a National Investment and Infrastructure Funds (NIIF) and introducing tax free Infrastructure Investment Bonds will create availability of funds for revamping of Ports and building new ports said Capt. Sunil Nangia. This Budget has also considered long pending Income Tax issue of the Indian seafarers.? This is a big achievement of the Indian seafarers and Indian Merchant Navy. CBDT (Central Board of Direct Taxes) has been given the authority to simplify a uniform method of computation of the period of stay in India for the purpose of determination of "resident" status of the Indian seafarer.?CBDT to ensure that the uniform method comes for computation comes out at the earliest so that all Indian seafarers working on Indian flag ships get the benefits of Income Tax relaxation. This will also help to get Quality Manpower and HR for Indian Shipping Industry. However, there is still long way to go. Government should give importance to ?SAGARMALA? project too. Also there is an urgent need to revive education, training and employment opportunities in this sector by creating ?MERCHANT NAVY NATIONAL CADET CORPS? under the National Skill Mission, Ministry of Shipping to preserve the quality, practical skills and competence of qualified human resources for Merchant Navy in India. Capt. Sunil Nangia Editor, Sailor Today. Over 95% of the world?s trade goes by Sea, there are 85,000 merchant ships in the worlds and more than 100 types of Cargo Ships in 21st Century the seas of the world carry more goods than ever before because it is cheapest way of transportation. Merchant Navy is the commercial aspects of shipping industry and Indian Navy is the defense aspect. So there is a clear distinct difference between Merchant Navy & Indian Navy.? About Capt. Sunil Nangia: Sunil Nangia, fondly addressed as `Captain? Nangia has served in the Merchant Navy starting as a Cadet, having passed out from T S Rajendra in 1980 and subsequently rising to the rank of Master Mariner in a career span of more than fourteen years.? A pioneer himself, to bring the merchant navy profession to the forefront and public eye Capt Nangia instituted the Sailor Today Sea Shore Awards in 2002, to recognize and felicitate the achievements and outstanding services of distinguished shipping personalities and organizations. According to Captain Nangia, the Merchant Navy profession and shipping industry is the backbone of our economy, which means that every professional in this industry is much sort after and holds a position of pride and admiration. So, if you want to be the envy of all and live a life of respect, prosperity, accomplishments and success, choose the Merchant Navy Profession.