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In order to ease the financial stress affecting the shipyards
the Institutional Mechanism on Infrastructure chaired by Secretary,
Department of Economic Affairs has recommended inclusion of
shipyards undertaking shipbuilding and ship-repair under the
Harmonized list of Infrastructure Sectors.
Pursuant to this addition, such shipyards will be able to avail
flexible structuring of long term project loans, long term funding
from infrastructure funds at lower rates of interest and longer
tenure equivalent to the economic life of their assets, relaxed ECB
norms, issuance of infrastructure bonds for meeting working capital
requirements as well as benefits under Income Tax Act, 1961.
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guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
