CURRENT AFFAIRS

Detailed explanation-1: -The agreement was signed by C S Mohapatra, Additional Secretary, Department of Economic Affairs, Ministry of Finance on behalf of the Government of India; Rajdeep Dutta, Deputy Resident Commissioner on behalf of the Government of West Bengal; and Junaid Ahmad, Country Director, India on behalf of the World Bank.

Detailed explanation-2: -TO promote Inland Water Transport (IWT) in the country, 111 waterways (including 5 existing and 106 new) have been declared as National Waterways (NWs) under the National Waterways Act, 2016 which came into effect from 12th April, 2016.

Detailed explanation-3: -The Inland Waterways Authority of India (IWAI) came into existence on 27th October 1986 for development and regulation of inland waterways for shipping and navigation.

Detailed explanation-4: -The Modi government aims to develop national waterways to cut logistics costs, make Indian industry competitive and develop India’s inland waterways as a viable, thriving mode of transport, especially for cargo. The inland waterways network spans close to 15, 000 km across rivers, channels, backwaters and creeks.