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Home > Mumbai > Mumbai News > Article > Maharashtra budget session 2024 Maha on track to achieve USD 1 Trillion economy says Ajit Pawar

Maharashtra budget session 2024: Maha on track to achieve USD 1 Trillion economy, says Ajit Pawar

Updated on: 27 February,2024 06:06 PM IST  |  Mumbai
Ronak Mastakar | ronak.mastakar@mid-day.com

Maharashtra Deputy Chief Minister Ajit Pawar on Tuesday said that Maharashtra is on track to achieve its goal of a USD 1 Trillion economy

Maharashtra budget session 2024: Maha on track to achieve USD 1 Trillion economy, says Ajit Pawar

Pic: PTI File

Maharashtra Deputy Chief Minister Ajit Pawar on Tuesday said that Maharashtra is on track to achieve its goal of a USD 1 Trillion economy.


Ajit Pawar, who is also the state's Finance and Planning Minister, presented the Interim Budget 2024-2025 on Tuesday and announced a slew of proposals while making allocations for expenditure over the next four months before the full budget is tabled.


Pawar said that the government is committed to attract more investments to achieve the target of a USD 1 Trillion state economy. “The State's policy is to achieve sustainable, environment-friendly and inclusive development. We are effectively implementing the developmental policies to increase the size of the State's economy to one trillion dollars as per the Report of the Maharashtra Economic Advisory Council, in accordance with the resolution of the Hon'ble Prime Minister to make India a developed nation by the year 2047,” he said.


“Capital investment in the State is being substantially enhanced to achieve one trillion dollar economy. The Gross State Domestic Product increases by Rs. 2.50 to Rs. 3.50 if a rupee is spent on infrastructural facilties. Various infrastructural projects are undertaken and completed in a time-bound manner by the Public Sector Undertakings of the State Government such as Maharashtra Industrial Development Corporation, Maharashtra State Infrastructure Development Corporation, City and Industrial Development Corporation, Maharashtra State Road Development Corporation, Maharail along with Mumbai, Pune and Nagpur Metropolitan Region Development Authorities, various Special Purpose Vehicles set up for metro, Brihanmumbai and other Municipal Corporations,” he added.

He said that a new Micro and Small Enterprises Policy will be implemented with 18 hubs for small-scale industries to be established in the state.

Five industrial parks will be set up at different locations in the state to boost exports, the Mirkarwada Fishing Port will be renovated and a provision of Rs 300 crore has been made for the Bhagwat Port, both in Ratnagiri.

The government will take up work on 7,000 kms of roads network in the state, besides increasing the railway network and a proposal has been submitted for 11 Maratha forts to be declared as UNESCO World Heritage sites.

The government will provide solar energy sets to 37,000 Anganwadis in the state that have no access to electricity, and 850,000 new solar agriculture pumps will be given on demand under a new scheme launched for state farmers.

He announced a provision of Rs 19,000 crore for public works and Rs 10,000 crore for urban development schemes, and said that Maharashtra Bhavans would be constructed in Srinagar for tourists and in Ayodhya for pilgrims.

The state will make available 5,000 pink autorickshaws for employment to women, give one crore water taps under the Har Ghar Jal Yojana, and spend Rs 2,500 crore for flood prevention schemes.

An important announcement pertains to the proposal to build a sea bridge from Bandra-Versova to Palghar for better connectivity to Mumbai.

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