NEW DELHI: Undeterred by financial constraints, Deputy Chief Minister Ajit Pawar has rolled out a roadmap for Maharashtra to be $1 trillion economy by pushing growth across sectors.
Against this backdrop, the state debt stock is estimated at Rs 9.32 lakh crore, but it will be 18.87 per cent of the GSDP, which is below 25 per cent of the limit proposed by the Fiscal Responsibility and Budget Management Act.
The government is making all efforts to increase its revenue to weather the situation. Efforts to increase the development rate through capital expenditure aimed at stimulating the development cycle. The target is to increase Mumbai Metropolitan Region's economy to $300 billion by 2030 and $1.5 trillion by 2047. The government will make special efforts to secure more central funds for the state through centrally-sponsored schemes.
In addition, the government will soon release a new industrial policy to attract investment of Rs 40 lakh crore and the creation of 50 lakh jobs in five years. It will also release MSME policy, space policy, circular economy policy, electronic policy and gems and jewellery policy to attract more investments and thereby maintain the state's preeminent position.