Maharashtra Budget: To boost state share in national GDP, Budget focuses on infra creation
Construction of the Maharashtra Shaktipeeth Highway, connecting Wardha and Sindhudurg districts, will entail a cost of Rs 86,300 crore, according to the state Budget 2023-24, presented by Deputy Chief Minister and Finance Minister Devendra Fadnavis on Thursday. This highway will connect Mahur, Tuljapur, Kolhapur, and Ambejogai in South Maharashtra, and pass through the districts of Hingoli, Nanded, Parbhani, Beed, Latur and Dharashiv. The highway is expected to give a boost to the economy of Marathwada and the detailed project report for it is being prepared.
In his Budget speech, Fadnavis said, “As the country moves towards 5 trillion dollar economy, Maharashtra too has decided to contribute its share of 1 trillion dollar economy. To boost state share from 14.2 per cent to 20 per cent in the national gross domestic product, our emphasis is to boost infra creation, which will result in comprehensive development of the state.” While the budget committed an overall outlay of Rs 53,058.55 crore for infrastructure development in the state, it stated that Rs 19,491 crore has been proposed under scheme expenditure for Public Works Department, Rs. 8,490 crore for Rural Development and Panchayat Raj Department, and Rs 10,297 crore for Planning and Employment Guarantee Scheme Department in the year 2023-24.
The overall development expenditure on the capital account has been pegged at Rs 81,805 crore for 2023-24, whereas as per revised estimate of 2022-23, it was at Rs 77,395 crore.
The government has also proposed to extend the Hinduhridaysamrat Balasaheb Thackeray Samruddhi Highway to a four-lane highway, which will be constructed from Sindkhedaraja node to Shegaon.
For 2023-24, an expenditure of Rs 14,225 crore has been proposed for roads and bridges, which will be used to improve 10,125-km of roads, 1,203 bridges and cross drainage works.
For better connectivity in the Mumbai Metropolitan Region, the budget has made special mention of the connector between the Thane and Vasai creeks for water transport around Mumbai. A jetty and related facilities, being built near Radio Club in South Mumbai, will be for connecting South Mumbai to Kalyan, Dombivli, Thane, Vasai Khadi and Navi Mumbai by waterway.
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