Paying monthly fees for domestic shipping firms not allowed any more

Q.  Paying monthly fees has been abolished for domestic shipping firms which now have to pay one time license fee of what amount?
- Published on 25 May 16

a. INR 25,000
b. INR 20,000
c. INR 30,000
d. INR 35,000

ANSWER: INR 20,000
 
Paying monthly fees is a tedious process as one has to repeatedly encounter red tape. The government said domestic shipping firms will have to pay only a one-time licence fee of Rs.20,000 to own foreign flag vessels, in a bid to give a boost to the maritime sector.
  • The government said the move would boost the Indian Controlled Tonnage Scheme and be a step towards promoting ‘ease of doing business’ in the maritime sector.

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