Maharashtra Moving Rapidly Towards $1 Trillion Economy: Fadnavis
Speaking at a meeting with Ajay Kumar Pandey, Vice President of Investment Solutions at AIIB here, Fadnavis said that Maharashtra is working on a comprehensive roadmap to become a developed state by 2047.
(Photo source: PTI)
Maharashtra Chief Minister Devendra Fadnavis on Thursday said the state is progressing swiftly towards achieving a $1 trillion economy, aligning with India's broader target of becoming a $5 trillion economy, and sought support from the Asian Infrastructure Investment Bank in realizing the goal.
Speaking at a meeting with Ajay Kumar Pandey, Vice President of Investment Solutions at AIIB here, Fadnavis said that Maharashtra is working on a comprehensive roadmap to become a developed state by 2047.
"The state's development plan is structured in three phases -- short-term, mid-term, and long-term. Several key infrastructure projects are underway, with more in the pipeline. Financial institutions like AIIB will play a crucial role in executing these projects." Fadnavis said.
He added that nine major projects from the state have already been submitted to the NITI Aayog and the Union Finance Ministry, and emphasized the need for financial assistance, especially for river-linking projects and pump storage power schemes.
Fadnavis highlighted the progress in five river-linking projects, including the Wainganga-Nalaganga-Painaganga project, which is expected to benefit both agriculture and industries. Similarly, the Damanganga-Godavari project aims to divert water that would otherwise flow into the sea toward the drought-prone Marathwada region.
He also stated that Maharashtra is targeting the creation of 1,00,000 MW of renewable energy through pump storage systems, with significant private sector interest. The state government plans to connect private companies with AIIB to accelerate development in this area.
Fadnavis said that solar-powered irrigation pump schemes for farmers are being implemented on a war footing, with plans to install 3 to 4 lakh solar pumps annually. These initiatives, he claimed, have become models for other Indian states.
Urban infrastructure was also a focus, with the CM highlighting ongoing and upcoming projects such as metro systems, underground roads, and coastal highways to enhance mobility in cities.
AIIB Vice President Ajay Kumar Pandey, in his remarks, shared details of the bank's ongoing global investments and assured continued support to Maharashtra's development initiatives.
