Maharashtra’s Infrastructure Boost: Key Budget Highlights

Maharashtra’s Deputy Chief Minister, Devendra Fadnavis, has expressed strong approval of the Union Budget 2024, describing it as a balanced framework that reflects Prime Minister Narendra Modi’s unwavering commitment to the state’s development. Emphasising Maharashtra’s critical role in the nation’s growth narrative, Fadnavis highlighted the substantial budgetary allocations across various essential sectors.

“In this budget, Maharashtra has received commendable allocations across core areas, reaffirming its significance in India’s growth agenda,” Fadnavis stated, drawing attention to notable financial provisions earmarked for key initiatives in the state. Specific allocations included INR 600 crore for irrigation projects in the Vidarbha and Marathwada regions, INR 400 crore for rural road enhancement, and INR 466 crore directed towards economic corridor development. In response to opposition criticism claiming insufficient budgetary support for Maharashtra, Fadnavis firmly rebutted these assertions, labelling them “baseless and misinformed.” He emphasised that the budgetary allocations are meticulously crafted to promote inclusive growth and strengthen economic resilience throughout the state.

The budget has also allocated substantial funds for critical sectors, including INR 598 crore for organic farming, INR 150 crore for agricultural and rural transformation projects, and INR 908 crore for the Mumbai Urban Transport Project-3. With these strategic allocations, the Union Budget 2024 is positioned to significantly enhance Maharashtra’s infrastructure landscape, contributing to the state’s economic revival under Prime Minister Modi’s leadership. Fadnavis further praised the budget’s overall economic vision, noting India’s impressive growth rate of 8.2% alongside a decrease in inflation from 6.7% to 5.4%. He elaborated on the detailed allocations, which include INR 1,087 crore for the Mumbai Metro expansion, INR 499 crore for the Delhi-Mumbai Industrial Corridor, and INR 683 crore for the Nagpur Metro. This demonstrates the government’s comprehensive approach to infrastructure development.

Concluding his remarks, Fadnavis underscored the budget’s focus on empowerment initiatives, which align with a forward-looking strategy aimed at supporting sectors essential for sustainable development and equitable prosperity. He highlighted that investments in the social sector comprise 12.8% of total allocations, reflecting the government’s commitment to uplift marginalised communities, including women, farmers, and youth.