Fadnavis govt's budget gives push to Make in Maharashtra plan | mumbai | Hindustan Times
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Fadnavis govt's budget gives push to Make in Maharashtra plan

mumbai Updated: Mar 19, 2015 19:57 IST
HT Correspondent
HT Correspondent
Hindustan Times
Maharashtra budget

Taking forward its promise of “ease in doing business” to facilitate its ambitious Make in Maharashtra programme, the state government has given a sizable allocation to industries.

To boost industrial cluster development in industrially backward areas, the budget has proposed an outlay of Rs 26.50 crore.

The budget also proposed an outlay of Rs 59.66 crore towards the interest subsidy for the eligible textile industrial units. The subsidy has been allocated to facilitate long-term loans at lower interest rates. The textile units in Vidarbha, Marathwada and north Maharashtra are expected to benefit from the allocation.

An outlay of Rs 200 crore for the land acquisition for the Mihan project in Vidarbha has been proposed in the budget. It has also allocated Rs 30,150 crore for 25 mega projects approved in 2014-15.

The projects have proposed an investment of Rs 13,166 crore with jobs for 13,988 people.

Finance minister Sudhir Mungantiwar said the implementation of the goods and services tax (GST) regime from next year will boost the manufacturing sector. He said the state has formulated business processes for the new tax regime and the required preparatory work was being done. He also contemplated augmentation of automatic of the tax system, which will help in migration to the GST.