Liberalisation, the bold new approach towards a new dynamic economic order is an instrument of change. The core sector of India is undergoing a visible transformation. The policy perspective has shifted to liberalisation Privatisation is being perceived as an instrument of change and as a lever for resource generation, technological upgradation and higher production standards. With privatisation, new equations are emerging, new collaborations are taking shape. In many ways liberalisation is an affirmation of confidence the policy makers have in the industrial prowess, the management calibre and the business acumen of Indian entrepreneurs.

Systematic implementation of the policy of liberalisation is bound to activate a revolution of prosperity with multiplier effect besides giving the Indian economy a competitive position in the global business environment.

During the short span of two years, the Ministry of Surface Transport has thrown open the Indian Shipping Industry to Domestic and International competition. Surface Transport will be playing a major role in globalisation of Indian commerce and industry.

1. Projects worth Rs. 4,605 crores sanctioned.

2. Projects worth Rs. 2,700 crores in the pipeline.

3. Private sector investments costing Rs. 1,605 crores in the transport sector approved.

4. Legislative upgradation:

a) National Highways Act amended to allow tolls on roads.

b) Multi Modal Transport Operatiors Act passed and implemented.

c) Amendments to Motor Vehicles Act framed.

d) Amendments to Motor Vehicles Rules notified.

e) Amendments to Merchant Shipping Act made into a law including:

--permission to foreclose mortgages without reference to any Court in India.

--passenger and freight rates decontrolled for domestic shipping.

5. Shipping Policy liberalised:

--For the first time Indian fleet increased to a total of 446 vessels, aggregating 6.37 million GRT as on 31-1-94.

--During 1992-93, 29 ships were acquired with a tonnage of 0.38 million GRT.

6. Cabotage laws relaxed for container ships/lash barges.

7. Procedures streamlined for expeditious approval of private sector projects at ports, like dry-docks,dedicated berths, tank terminals, etc.

8. Training facilities for seamen expanded/upgraded.

9.Transchart services being offered to Private Sector.

10.Freight & Passenger fares de-controlled to promote coastal shipping.

11.Packae for revival of Shipyards announced by Cabinet.

12.Priority Berthing, advance reservation of berths and fixed-day-call-by ships schemes introduced at ports.

13. Over 8,500 persons have availed of voluntary retirement in PSUs/ports.

14. Third National Waterway in Kerala declared.

15. New subsidy scheme for transportation of goods by Inland Waterways introduced.

16. Pathkar (Entry Tax, imposed in some states) abolished.

17. By-Passes, Expressways, Bridges offered to private sector on B-O-T basis.

18. National Ship Design and Research Centre opened in Visakhapatnam.