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of <h1>Union Budget 2025-26 extends tonnage tax benefits to inland vessels under Inland Vessels Act, 2021 for industry growth.</h1> The Union Budget 2025-26 proposes extending the benefits of the tonnage tax scheme to inland vessels to boost the inland water transportation industry. Initially introduced in 2004 to support the Indian shipping industry, the tonnage tax scheme allows qualifying companies to opt for a favorable tax regime. Due to a shortage of inland water transport vessels and the capital-intensive nature of the sector, the scheme will now include inland vessels registered under the Inland Vessels Act, 2021. This amendment, effective from April 1, 2026, aims to attract investments and promote growth in inland water transportation.
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