Is There No Objection from the Finance Department? CM Fadnavis Confirms Shaktipeeth Expressway Will Proceed

Mumbai, June 26 (NationPress) Maharashtra's Chief Minister Devendra Fadnavis confirmed on Thursday that the state will proceed with the ambitious 802-km Shaktipeeth Mahamarg project, valued at Rs 86,300 crore. He stated that the state Finance department has not raised any objections to this significant infrastructure initiative.

This announcement follows concerns raised by the Finance department regarding the Rs 20,878-crore loan guarantee from the Maharashtra Cabinet, which could impose a financial strain on the state and affect its borrowing capabilities.

The Finance department has recommended a reconsideration of the Build, Operate, and Transfer (BOT) model for large infrastructure endeavors, suggesting a prioritization of financial resources.

Opposition parties have also urged the government to reassess the project's execution, citing adverse effects on farmers.

Nevertheless, CM Fadnavis emphasized that the project would proceed as there are no objections from the finance authorities. He remarked, “There is no objection from the state Finance department. It has merely conducted its due diligence, providing data without raising issues. Infrastructure globally is developed via loans,” during a press briefing after attending business advisory committee meetings at the Vidhan Bhavan.

Fadnavis added that highway construction promotes economic growth, recalling resistance to the Samruddhi Expressway which ultimately transformed many districts. He firmly believes that the Shaktipeeth Expressway will also revitalize Marathwada and drought-affected areas.

The Nagpur-Goa Shaktipeeth Expressway stands as one of the largest road infrastructure projects in India, with the high-speed corridor connecting Pavnar in the Wardha district to Patradevi in Sindhudurg, close to the Maharashtra-Goa border.

The project faced delays due to farmers' protests in 2024.

On Tuesday, the Finance department expressed concerns regarding high borrowing rates for the initiative, advising the government to reevaluate its BOT policy and prioritize projects according to available financial resources.

Meanwhile, NCP-SP Working President and party MP Supriya Sule urged the government to reconsider the Shaktipeeth Expressway, highlighting critical points raised by the Finance department regarding the loan guarantee.

“The state faces potential financial mismanagement due to this project. As farmers protest against land acquisition, such financial burdens can jeopardize the state's financial health,” Sule stated.

She pointed out that the Maharashtra government struggles to provide essential services like education, health, and water, yet is pursuing a project that may strain the state’s finances. “We do not want Maharashtra to fall into financial bankruptcy. This issue should be addressed at the national level,” she added.

Congress MLC Satej Patil, who leads the protests against the Shaktipeeth expressway, noted that the Finance department has raised concerns about the financial structure of the Maharashtra State Road Development Corporation, which will oversee the project.

“This indicates internal disagreements within the state government regarding this project,” he concluded, asserting that farmers across the state remain opposed and will continue their protests.