On the lines of the Centre's ambitious 'Make In India' programme, the Devendra Fadnavis-led state government has set the ball rolling on 'Make In Maharashtra' to promote the manufacturing sector, which has massive job creation potential.
On the lines of the Centre's ambitious 'Make In India' programme, the Devendra Fadnavis-led state government has set the ball rolling on 'Make In Maharashtra' to promote the manufacturing sector, which has massive job creation potential.
In order to ensure ease of doing business, the state has cut down the time for granting construction approvals and power connections.
In the legislative assembly on Friday, Fadnavis announced that the state cabinet had approved an amendment to the Maharashtra Municipal Corporation Act to ensure that units in MIDC areas did not need permissions from local civic bodies once they secured the go-ahead from the respective corporations. The act presently stipulates that no manufacturing unit can be set up or renewed in the jurisdiction of civic bodies without the municipal commissioner's consent. This had led to the industries also seeking consent from the municipal corporations apart from the MIDC leading to time lags and an additional financial outgo.
According to the Economic Survey of Maharashtra for 2013-14, from August 1991 to October 2013, 18,406 proposals with Rs 10,21,633 crore investment were approved. Of these, 7,812 projects (42.4%) with an investment of Rs 1,82,273 crore (17.8%) were commissioned, generating 9.61 lakh employment.
Since August 1991 to March 2012, 4,246 Foreign Direct Investment projects (of 20,643 in India) worth Rs 97,799 crore were approved (against Rs 4,25,811 crore at the all-India level), of which 45% were commissioned and 10% are under execution with an investment share of 51% and 8% respectively. The IT industry leads approved FDI projects followed by financial services, hotel and tourism and business management consultancy.
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