2024 Maharashtra polls: Mahayuti govt's success in securing investments and job growth

New Delhi: As the Maharashtra assembly elections approach in 2024, opposition parties are back to familiar strategies of spreading misinformation and divisive rhetoric. Meanwhile, the Mahayuti government has been diligently fostering investments and boosting employment opportunities for the state's residents. The government’s "Maharashtra first, Marathi first" initiative has led to numerous pivotal projects being greenlit by the central government.

Infrastructure: A central focus

The Mahayuti government has made notable headway in fast-tracking infrastructure projects throughout Maharashtra. Thanks to its proactive efforts, millions of new job opportunities are anticipated, as both the central and state governments continue to create a favourable environment for investments in sectors such as water management, industry, agriculture, and transport.

Energy sector: A pivotal shift

The energy landscape in Maharashtra is on the verge of transformation with a ₹2.14 lakh crore investment in pump storage systems. This will add 40,870 megawatts to the state's power capacity and generate 72,000 new jobs. Deputy CM and Energy Minister Devendra Fadnavis recently finalized several key agreements in this sector.

River linking project: Empowering north Maharashtra

The state has also committed ₹7,000 crore to the Nar-Par Giran river link project, which will transfer excess water from Gujarat to Maharashtra. This initiative is set to irrigate 50,000 hectares of land, particularly aiding the districts of Nashik, Jalgaon, and Dhule.

Konkan, Marathwada, and Vidarbha: Driving equitable growth

Seven large-scale projects, worth ₹81,000 crore, have been approved, aiming to create 20,000 jobs. These initiatives will focus on manufacturing advanced vehicles, semiconductor chips, and lithium batteries, providing a significant uplift to the Konkan, Marathwada, and Vidarbha regions.

Vehicle and energy sectors: Catalysts for growth

The state has endorsed investments amounting to ₹1.20 lakh crore in the vehicle and energy sectors. A semiconductor project by Tower Semiconductor and Adani Group in Taloja, Panvel, is expected to create 5,000 jobs. Additionally, Toyota Kirloskar’s electric vehicle manufacturing plant in Orik City will generate around 9,000 jobs.

Railway expansion: Linking north Maharashtra

An allocation of ₹18,000 crore has been sanctioned by the central government for the Manmad-Indore railway line, which will introduce 30 new stations and connect over 1,000 villages, benefiting more than 3 million people. This development will fuel industrial growth in previously underserved regions of North Maharashtra.

Vadhavan port expansion: A major milestone

Prime Minister Narendra Modi recently laid the foundation for the Vadhavan port project, selecting Maharashtra over four other states. The port is poised to become a cornerstone of India’s foreign trade, with direct access to the Samruddhi Expressway, thus boosting the state's economic potential.