The Union Cabinet is likely to approve three flagship schemes for shipping sector , sources have told ET NOW. The government's focus is to develop an ecosystem where ship building, infrastructure along with some financial support will be provided to incentivize overall ecosystem in the shipping sector. Sources have indicated that that the schemes such as Maritime Development Fund , Ship Building Financial Assistance Policy along with Ship Building Cluster are likely to get Cabinet nod. Besides, the Cabinet could also grant financial assistance of approximately Rs 65,000 crore to Rs 70,000 crore. Notably, the Expenditure Finance Committee (EFC), a body within the Department of Expenditure, Ministry of Finance, as already approved financial assistance for these schemes. Back in

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