GS-3, Indian Economy, Uncategorized

Sagarmala project to be completed in 5 years

The government has decided to halve the previously estimated 10-year timeframe to complete the Sagarmala port development project.

  • The project targets to provide one crore employment. Port-led development has potential for direct employment generation for 40 lakh persons and for 60 lakh persons indirectly.

About Sagarmala:

The Sagarmala project seeks to develop a string of ports around India’s coast. The objective of this initiative is to promote “Port-led development” along India’s 7500 km long coastline.

  • It aims to develop access to new development regions with intermodal solutions and promotion of the optimum modal split, enhanced connectivity with main economic centres and beyond through expansion of rail, inland water, coastal and road services.
  • The Union Ministry of Shipping has been appointed as the nodal ministry for this initiative.

The Sagarmala initiative will address challenges by focusing on three pillars of development, namely:

  • Supporting and enabling Port-led Development through appropriate policy and institutional interventions and providing for an institutional framework for ensuring inter-agency and ministries/departments/states’ collaboration for integrated development.
  • Port Infrastructure Enhancement, including modernization and setting up of new ports.
  • Efficient Evacuation to and from hinterland.

Other objectives:

  • In addition to strengthening port and evacuation infrastructure, it also aims at simplifying procedures used at ports for cargo movement and promotes usage of electronic channels for information exchange leading to quick, efficient, hassle-free and seamless cargo movement.
  • It also strives to ensure sustainable development of the population living in the Coastal Economic Zone (CEZ). This would be done by synergising and coordinating with State Governments and line Ministries of Central Government through their existing schemes and programmes such as those related to community and rural development, tribal development and employment generation, fisheries, skill development, tourism promotion etc.

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