As the Maharashtra government relentlessly focuses on infrastructural needs developing various schemes and policies in this regard, the state’s GDP continues to post a promising picture. Maharashtra’s massive infrastructure, particularly its thrust on developing a robust system of expressways and road connectivity, has led to increased industrial and manufacturing activities in the state. The airport development coupled with better connectivity and smooth accessibility in remote areas has resulted in massive foreign tourist inflow in Maharashtra. Tourism is a key sector that is responsible for the spike in GDP of any state.
Studies by the Reserve Bank of India and National Institute of Public Finance and Policy estimate that “for every rupee spent on infrastructure, there is a 2.5 to 3.5 rupee gain in GDP. This also applies to states like Maharashtra. Chief Minister Eknath Shinde-led War Room (Infrastructure Projects) seems to have understood this economic aspect of the infra projects. That is why the expressway projects were not seen only as connectivity convenience roads but they were duly developed as economic corridors. Here, War Room benefited a lot from experienced bureaucrat Radheshyam Mopalwar who is DG of War Room’s Infrastructure Projects. His understanding of the economic importance of any infra project has been immense. This got reflected in Nagpur-Mumbai expressway ‘Samruddhi Mahamarg’ which has boosted economic activities tremendously even while it is not fully operational. The GDP of Maharashtra is definitely going to receive a major boost once full economic growth potential of the Samruddhi Mahamarg expressway is tapped.
The War Room is also working on the three major infra projects which will be having a huge impact on the GDP of the state in future. These projects include Delhi Mumbai Industrial Corridor (DMIC), Bengaluru Mumbai Industrial Corridor (BMIC), Hyderabad-Nagpur and Delhi Nagpur Industrial Corridor (DNIC). These are three of the 11 industrial corridor projects which the central government is developing across the country in a phased manner as per the National Industrial Corridor Programme. Let’s see how states are involved in these projects. As per the approval financial structure for the industrial corridors, the Centre through National Industrial Corridor Development and Implementation Trust (NICDIT) provides funds as equity or debt and the states are responsible for “making available contiguous and encumbrance free land parcels.
Here, the War Room’s responsibility to provide land for the projects of these economic corridors is quite significant. With this being the case, the War Room and the State leadership are dependent on Mopalwar’s expertise to help the Central team acquire land for the corridor. According to information a few parcels of land have been provided so far, while for more, efforts are underway. As MSRDC MD, Radheshyam Mopalwar had acquired the land for the Samruddhi Mahamarg. He is still working on land acquisition tasks for various other projects. He is skilled in handling the matter related to this exercise in a smooth manner.
So these pieces of infra projects including economic corridors of eminence will help Maharashtra increase its GDP considerably. This is the reason why Dy CM Fadnavis said that Maharashtra is the powerhouse of the Indian economy as it contributes more than 15 per cent of India’s GDP. Maharashtra currently contributes 29 per cent of India’s FDI and 20 per cent of the country’s total industrial production. Boasting about a massive infra system, Maharashtra is poised to be a pivotal player in propelling India to become the third largest global economy. Maharashtra has a reason to aim to achieve a $1 trillion economy by 2028. The state’s economic survey tabled in March in the assembly this year had said that Maharashtra’s economy is expected to grow by 6.8% in 2022-23 against the projected 7% growth of the Indian economy. Experts predict that Maharashtra will be able to achieve its goal of higher GDP with increased activities in tourism, agricultural and energy sectors. Robust infra and connectivity have led to massive inflow of foreign tourists and increased demand at the tourist places. Agriculture and tourism are some of the prominent growth engines. In what raises the government’s developmental hopes, the Economic Advisory Council has said that $ 1 trillion economy target of the state is achievable given an average 9% growth rate exhibited by the state in the past over five years. As the improved road connectivity is helping the government to bridge the rural and urban divide, the regional imbalance can be done away with as soon as possible. MSRDC’s Samruddhi Mahamarg is one of the projects that have brought maximum areas of Maharashtra major regions into the main economic cycle. This will go a long way in addressing the issue of regional imbalance. The Mumbai-Bengaluru Industrial Corridor is an economic corridor which will address this issue in various pockets as it will pass through Solapur, Kolhapur, Satara and Pune. According to the reports, the entire length of the corridor will spread across 1000 km. The Indian government is expecting to generate an income of â¹3 lakh crore from this economic corridor and even generate over 2.5 million jobs from its initiation. This would have an influence area spread across the states of Karnataka and Maharashtra. The availability of world class infrastructure along the corridor shall also enable increased investments in manufacturing and industrial activity in these states. In the first phase, Dharwad in Karnataka (approx. 6042 acres) and Satara, Maharashtra (approx. 12,355 acres) have been identified as potential nodes.
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