New Delhi, April 29 -- The government's expenditure finance committee (EFC) has cleared the Rs.25,000 crore Maritime Development Fund (MDF) for FY26, two persons aware of the matter said, a project to lend long-term, low-cost financial support for indigenous ship-building and other blue water infrastructure projects.

Funding of maritime projects are expected to flow in by the second quarter of the current financial year, after approval by the Union cabinet, which is expected to take up the proposal soon, the first of the person quoted above said.

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The MDF plan was announced in Budget 2025-26.

Cabinet approval has been sought for the Centre to provide 49% ...