SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Cabinet approves scheme to provide Rs 1,624 crore over 5 years as subsidy to shipping companies

15 Jul 2021 Evaluate

The Union Cabinet has approved a scheme to provide Rs 1,624 crore over five years as subsidy to Indian shipping companies in global tenders floated by ministries and Central Public Sector Enterprises (CPSEs) for import of government cargo. Registration shall be done online within 72 hours like the world's best ships registries and this will make it easy and attractive to register ships in India and thereby aid in boosting the Indian tonnage.

In addition to this, it is intended to provide 30 days to any in-flagging vessel to replace the crew on board with Indian crew. In order to address the cost disadvantage suffered by Indian flag ships, Finance Minister Nirmala Sitharaman has in her Union Budget for 2021-22 speech had announced a scheme providing Rs 1,624 crore over five years to promote flagging of merchant ships in India by providing subsidy support to Indian shipping companies in global tenders floated by ministries and CPSEs.

The steps are also being taken to rationalize the manning requirements on the ships by aligning them with international standards. It pointed out that despite having a 7,500 km long coastline, a significant national exim trade that is steadily growing on an annual basis, a policy of 100 per cent FDI in shipping since 1997 and Indian shipping industry and India's national fleet is proportionately small when compared with its global counterparts.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through: