Mumbai, Feb 1 (NationPress) Maharashtra's Deputy Chief Minister Eknath Shinde has extended his congratulations to Union Finance Minister Nirmala Sitharaman for unveiling her ninth budget, which is focused on fostering self-reliance and comprehensive development for India.

He emphasized that this budget significantly enhances the capabilities of Mumbai and Maharashtra, identified as the nation's growth engines, by promoting the overall development of smaller cities, improving infrastructure, and offering substantial incentives for Micro, Small, and Medium Enterprises (MSMEs). This initiative is a pivotal move towards Prime Minister Narendra Modi’s vision of a Viksit Bharat.

Shinde highlighted that while many global economies are struggling, India continues to uphold its growth rate. “This budget is built on three fundamental principles: economic expansion, enhancing the living standards of ordinary citizens, and the concept of 'Sabka Saath, Sabka Vikas'. It exemplifies a profound understanding of current realities and a forward-thinking vision,” he remarked.

In discussing the implications for the state, the Deputy Chief Minister pointed out the significance of establishing an Indian Institute of Creative Technology post the previous year's global WAVES summit in Mumbai, acknowledging the city’s status as a hub for the entertainment and media sectors. Given Maharashtra's high rate of urbanization, the emphasis on Tier-2 and Tier-3 cities is likely to bolster their economic capacity.

The creation of an infrastructure fund amounting to Rs 12 lakh crore for cities with populations exceeding five lakh is set to revolutionize urban environments. A concession of Rs 100 crore for Municipal Bonds will enhance the fiscal health of Municipal Corporations across the state.

Further, Deputy CM Shinde observed, “Maharashtra’s vibrant manufacturing industry is poised to benefit from various significant provisions, including Rs 40,000 crore allocated to the Semiconductor sector and Rs 10,000 crore for Biopharma, along with incentives for advanced technologies in textiles, handlooms, and handicrafts, coupled with initiatives for container production and concessions for Data Centres.”

He also mentioned that the announcement of the Mumbai-Pune and Pune-Hyderabad High-Speed Railway Corridors will greatly enhance the state’s railway infrastructure. The establishment of Medical Hubs is expected to create significant employment opportunities in cities such as Mumbai and Pune, which already lead globally in medical services.

“For a coastal state like Maharashtra, initiatives aimed at enhancing the fisheries sector and applying technology to improve Coconut and Cashew production are extremely advantageous. Following Maharashtra’s initiative for women’s self-reliance, the She-Mart program (similar to Lakhpati Didi) will empower self-help group members to become entrepreneurs,” stated Dy CM Shinde, adding that the proposal to construct girls' hostels in every district will provide substantial support for female students.

He noted that a reduction in import duties on medications for rare diseases will be a relief for countless patients.

Dy CM Shinde further remarked that the introduction of a streamlined New Income Tax Regime starting April 1 will benefit all taxpayers, both small and large. He emphasized that, amid global uncertainties and trade conflicts, India has sent a strong message of self-reliance.

He credited Prime Minister Narendra Modi’s visionary leadership for sustaining a consistent growth trajectory through structural reforms, ensuring progress for all.