Ministry of Ports, Shipping, and Waterways
Budget 2025-26 expanded the Tonnage Tax Scheme to include inland vessels under the Indian Vessels Act, 2021. Previously, the scheme was only for sea-going ships. The Indian Vessels Act, 2021 promotes safe, economical inland water transport and ensures legal uniformity. The scheme falls under the Ministry of Ports, Shipping, and Waterways. It was introduced in 2004 under the Indian Finance Act. The expansion encourages cargo movement and incentivizes shipping companies to invest in inland waterways vessels.
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