With reference to Indian Port Ecosystem, consider the

Solution

Recently, the government has prepared the Draft Indian Ports Bill, 2022 which seeks to repeal and replace the existing Indian Ports Act 1908, which is more than 110 years old, becoming imperative that the Act is revamped to reflect the present-day frameworks. Hence, statement 1 is correct. Major Ports are under the Union list of the Indian Constitution and are administered under the Indian Ports Act 1908 and the Major Port Trust Act, 1963. All the Minor Ports are governed under the Indian Port Act, 1908 and are owned and managed by the State Governments. Hence, statement 2 is not correct. The Union Government has allowed Foreign Direct Investment (FDI) of up to 100% under the automatic route for port and harbour construction and maintenance projects.