Maharashtra Budget: Govt Allocates Rs 6,895 Cr For Affordable Housing
Infrastructure remained the focus area when the Maharashtra government on February 27 presented its Interim Budget for 2019-20, with a revenue deficit of Rs 19,784.
Affordable housing & Smart cities
The Maharashtra government allocated Rs 6,895 crore for affordable housing. The aim is to construct more housing for the lower-income groups and economically-weaker sections categories across the state.
The state has also announced an outlay of Rs 2,400 crore for smart cities and the Amrut Mission. Real estate developers lauded the move to boost affordable housing in the state.
Maharashtra’s Finance Minister Sudhir Mungantiwar in his Speech said that Mumbai’s Metro network would be extended to 276 km from the current 11.4 km. The Metro network would now be extended to the satellite towns of the Maximum City, including Thane, Mira-Bhayander, Vasai Virar, Kalyan-Dombivali and Bhiwandi.
During his Budget Speech, Mungantiwar allocated major outlays for road projects, development of airports in Tier-II cities, modernisation of state transport corporation’s network.
Road development in the state received an outlay of Rs 8,500 crore and an additional outlay of Rs 3,700 crore for development of roads under the hybrid annuity model (HAM), Rs 2,164 crore under the Chief Minister Gram Sadak Yojana and Rs 350 crore for NABARD-assisted road. The government, which has already completed the land acquisition for the Mumbai-Nagpur Expressway, said that the the construction work of this project will start in the upcoming fiscal.
Under the Centre’s UDAN Scheme, the finance minister proposed an outlay of Rs 65 crore for the development of airports and modernisation of aviation services. The government has planned development of airports in Nashik, Jalgaon, Solapur, Kolhapur, Amravati, Gondiya, Nanded, Ratnagiri and Sindhudurg.
Additionally, for waterways development Mumbai received Rs 26 crore as funds for the development of Ro-Ro jetties at Radio Club, Nariman Point, Mora and Elephanta Island.
For the modernisation of inter-state road transport provider, the Maharashtra State Road Transport Corporation (MSRTC), the state has allocated Rs 101 crore. The government would modernise 96 of the 592 bus stations in the state. The MSRTC has also been given funds to the tune of Rs 210 crore to procure 700 buses.