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by IANS |
Mumbai, Feb 1 (IANS) Maharashtra Deputy Chief Minister Eknath Shinde has congratulated Union Finance Minister Nirmala Sitharaman on presenting her ninth budget, aimed at making India self-reliant and developed.
He stated that the budget provides significant strength to Mumbai and Maharashtra -- the growth engines of the country -- by boosting the holistic development of smaller cities, enhancing infrastructure, and providing massive incentives to Micro, Small, and Medium Enterprises (MSMEs). This budget is a determined step toward Prime Minister Narendra Modi’s vision of a Viksit Bharat.
The Deputy Chief Minister noted that while economies of many countries are faltering, India has maintained its growth rate. “This budget is structured around three core duties: economic growth, elevating the standard of living for the common man, and 'Sabka Saath, Sabka Vikas'. It reflects an awareness of the present and a vision for the future,” he said.
Highlighting the benefits for the state, the Deputy Chief Minister mentioned that following last year’s global WAVES summit in Mumbai, the announcement of an Indian Institute of Creative Technology is significant, recognising Mumbai as a powerhouse for the entertainment and media industry. Given Maharashtra’s high urbanisation rate, the focus on Tier-2 and Tier-3 cities will boost their economic strength.
The establishment of an infrastructure fund with Rs 12 lakh crore for cities with a population of over five lakh will transform urban landscapes. A concession of Rs 100 crore each for Municipal Bonds will strengthen the financial health of Municipal Corporations in the state.
Deputy CM Shinde further stated, “Maharashtra’s robust manufacturing sector stands to gain from several key provisions, including Rs 40,000 crore for the Semiconductor sector and Rs 10,000 crore for Biopharma and incentives for advanced technology in textiles, handlooms, and handicrafts, along with schemes for container production and concessions for Data Centres.”
He noted that the announcement of the Mumbai-Pune and Pune-Hyderabad High-Speed Railway Corridors will provide a massive push to the state’s railway infrastructure. The creation of Medical Hubs will generate large-scale employment in cities like Mumbai and Pune, which are already global leaders in medical services.
“For a coastal state like Maharashtra, measures to boost the fisheries sector and technological interventions for Coconut and Cashew production are highly beneficial. Following Maharashtra’s lead in women's self-reliance, the "She-Mart" initiative (similar to Lakhpati Didi) will turn self-help group members into entrepreneurs,” said Dy CM Shinde, adding that the plan to build girls' hostels in every district will provide immense support to female students.
He pointed out that a reduction in import duties on medicines for rare diseases will provide relief to thousands of patients.
Dy CM Shinde added that the implementation of the simplified New Income Tax Regime from April 1 will benefit all small and large taxpayers. He remarked that, amidst global instability and trade wars, India has sent a powerful message of self-reliance.
He credited Prime Minister Narendra Modi’s visionary leadership for maintaining a steady growth rate through structural reforms, ensuring progress for all.
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