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UPSC Dictionary

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India's fiscal deficit target is monitored under the FRBM Act, 2003 — a key topic in GS Paper III.

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UPSC Dictionary

Vadhavan Port

The Vadhavan Port is a major, all-weather, deep-draft greenfield port project being developed in the Palghar district of Maharashtra, near Dahanu. It is a concept, scheme, and institution, officially notified by the Government of India as a Major Port in the Government Gazette on February 19, 2020.

The port's origin lies in the need to accommodate the growing cargo value on India's western coast and to decongest existing ports like the Jawaharlal Nehru Port Authority (JNPA) and Mumbai Port, which have draft limitations for ultra-large container vessels. The concept for an offshore mega port was designed in 2015, and a Memorandum of Understanding (MoU) was executed between JNPA and the Maharashtra Maritime Board (MMB) on June 5, 2015. The project was approved by the Union Cabinet on June 19, 2024, with an estimated cost of ₹76,220 crore. Prime Minister Narendra Modi laid the foundation stone on August 30, 2024.

The port is being developed under the Landlord model by a Special Purpose Vehicle (SPV) named Vadhavan Port Project Limited (VPPL), incorporated on September 14, 2016. VPPL is a joint venture where the Jawaharlal Nehru Port Authority (JNPA) holds a 74% equity stake, and the Maharashtra Maritime Board (MMB) holds the remaining 26%. The mechanism involves constructing the port on an artificial island, with land reclaimed from the sea, to achieve a natural deep-water depth of 20 meters. This deep draft will allow it to handle the latest generation of container ships, with a projected total cargo handling capacity of 298 million metric tonnes per annum.

The Vadhavan Port connects directly to the Government of India's Sagarmala Programme and the Gati Shakti initiatives, which aim for holistic infrastructure development and port-led development. It is designed to be a multimodal logistics hub, with planned road and rail corridors linking it to the Western Dedicated Freight Corridor (DFC), the Mumbai–Ahmedabad high-speed rail corridor, and the Mumbai Metropolitan Region (MMR). The project has recently gained momentum with the Union Cabinet's approval in June 2024 and the Bombay High Court's approval for the removal of mangrove patches in the approach area, resolving a key implementation issue. The port is slated to become India's 13th major port and is expected to be completed by 2034.

References

  • pib.gov.in
  • acqias.com
  • vadhvanport.in
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  • paradigmshift.com.pk
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