Mumbai, April 7 (NationPress) In a significant advancement towards fulfilling the 'Viksit Maharashtra' vision under the 'Viskit India 2047' initiative, the Maharashtra Cabinet, led by Chief Minister Devendra Fadnavis, has approved the creation of a new standalone department focusing on Electronics, Information Technology, and Artificial Intelligence.

The current Directorate of Information Technology will evolve into the Directorate of Electronics, IT, and AI. A new IT Cadre will be established, incorporating permanent roles for ministerial departments, the Commissioner’s office, and various districts to enhance IT, AI, and digital governance across the state.

This decision follows CM Fadnavis’s recent remarks in the state legislature, highlighting Maharashtra's leadership in the AI startup ecosystem. He noted that the government is actively fostering fintech and AI startups to position the state as a trillion-dollar economy.

Fadnavis emphasized that technology will be crucial for this economic expansion, as the government aims to establish Maharashtra as a frontrunner in the startup and technology sectors.

Furthermore, the Cabinet approved a financial restructuring plan for the state’s power distribution company, Mahavitaran, which will involve issuing government bonds in the capital market for state-guaranteed loans totaling Rs 32,679 crore.

Additionally, the agricultural distribution operations will be demerged (Agri Demerger), and Mahavitaran is set to be listed on the stock exchange.

The Cabinet also sanctioned the formation of the Maharashtra Geotechnology Application Centre (MahaGeoTech), aimed at enhancing administrative efficiency through geospatial technology.

This center will prioritize modern technology, research, geospatial innovation, and entrepreneurship, offering educational opportunities for students, professionals, and researchers.

Moreover, the restructuring of the Maharashtra Remote Sensing Application Centre (MRSAC) was approved, transitioning it into a company. Its registration under the Societies Act of 1860 will be revoked, and it will be established under Section 8 of the Companies Act, 2013.

This move is expected to expedite projects related to road information systems, urban planning, watershed development (Jalyukt Shivar), development in hilly areas, e-Panchnama, Maha Agri Tech, mangrove research, groundwater management, and mineral/mining studies.

In addition, the Cabinet approved the implementation of the Maharashtra Resilience Development Program (MRDP), which aims to secure disaster management funding through private capital.

This initiative includes a Rs 165 crore fund from the World Bank and will offer relief on home loans for those affected by disasters, as well as provide credit concessions and insurance support to MSMEs.

To address flood risks, preventative strategies will be developed for the Krishna Basin, encompassing the cities of Kolhapur, Sangli, and Ichalkaranji.