What Major Projects Did the Maha Cabinet Approve?
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Synopsis
The Maharashtra Cabinet has approved over 325 industrial proposals, enabling significant investments and job creation. With a projected investment of Rs 1 lakh crore, this move marks a pivotal moment for the state's industrial growth. Discover how this will impact employment and economic development.
Key Takeaways
- Maharashtra Cabinet approved 325 industrial proposals.
- Projected investment of Rs 1,00,655.96 crore.
- Creation of 93,317 jobs anticipated.
- Expired policies are being updated for future projects.
- Financial assistance announced for victims of the Central Textile Factory fire.
Mumbai, May 20 (NationPress) The Cabinet of Maharashtra, led by Chief Minister Devendra Fadnavis, has on Tuesday approved 325 proposals that were previously stalled due to the expiration of the policy period in the industrial sector.
The endorsement of these proposals is anticipated to generate an investment of Rs 1,00,655.96 crore and the creation of 93,317 jobs.
The policies developed by the Industries Department, such as the Maharashtra Electronics Policy 2016, along with incentives for Fab projects, the Maharashtra Space and Defence Sector Production Policy 2018, the Flattened Sediment Industrial Complexes Policy 2018 for readymade garment manufacturing, gems and jewellery, microelectronics, and engineering components, and the Maharashtra New Industrial Policy 2019 have all lapsed. The government is currently in the process of drafting a new policy for these areas, as stated in a government release.
Despite the expiration of the policy period, the Finance Department has sanctioned incentives for industrial units that will contribute positively to the state's development. During the interim period before the new policy comes into effect, investments in industry components and subsidies will still be permissible.
Accordingly, 313 pending proposals have been authorized under the Maharashtra Electronics Policy 2016, along with incentives for Fab projects. These proposals are expected to yield an investment of Rs 42,925.96 crore and create 43,242 jobs.
Additionally, a total of 10 proposals under Maharashtra's Space and Defence Sector Production Policy 2018 were approved. These initiatives are projected to attract an investment of Rs 56,730 crore and provide 15,075 jobs.
Moreover, two proposals were sanctioned under the Flatbed Industrial Complexes Policy 2018 for the manufacturing of readymade garments, gems and jewellery, microelectronics, and engineering components. These initiatives are expected to secure an investment of Rs 1,000 crore and generate 35,000 jobs.
In other news, Labour Minister Akash Fundkar expressed his condolences for the eight workers who tragically lost their lives in a significant fire at the Central Textile Factory in Solapur, describing the event as extremely unfortunate.
The incident has deeply affected the entire district, and efforts are currently underway to identify the victims. Chief Minister Devendra Fadnavis announced financial compensation of Rs 5 lakh to the families of the deceased.
Upon receiving news of the incident, officials from the Directorate of Industrial Safety promptly arrived at the scene, and a comprehensive investigation into the causes of the accident is underway. The minister also assured that the deceased workers' families would receive all legal benefits.
Minister Fundkar additionally stated that a specialized team would conduct audits of hazardous and chemical factories in the Solapur industrial area to avert such incidents in the future.
Point of View
It is imperative to recognize the significant impact of the Maharashtra Cabinet's decision on the state's economic landscape. This approval not only promises substantial investments but also job creation, crucial for the state's recovery. However, it is equally vital to address the tragic incident at the Central Textile Factory, as it highlights the need for improved safety regulations in industrial settings. The balance of progress and safety must be prioritized.
NationPress
30/07/2025
Frequently Asked Questions
What is the total investment expected from the approved proposals?
The total investment expected from the approved proposals is Rs 1,00,655.96 crore.
How many jobs will be created from these proposals?
The approval of these proposals is expected to create 93,317 jobs.
What policies have expired that led to the approval of these proposals?
The expired policies include the Maharashtra Electronics Policy 2016 and others related to space, defence, and garment manufacturing.
What support will the families of the deceased workers receive?
The families of the deceased workers will receive financial assistance of Rs 5 lakh each.
What measures are being taken to ensure industrial safety?
A special team will audit hazardous and chemical factories in the Solapur industrial area to prevent future accidents.
