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$1-trillion economy by 2025 an achievable target: Maharashtra Finance Minister Sudhir Mungantiwar

State finance minister Sudhir Mungantiwar told DNA that the goal to make Maharashtra a $1 trillion economy is challenging but can be achieved.

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$1-trillion economy by 2025 an achievable target: Maharashtra Finance Minister Sudhir Mungantiwar
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The state government on Monday hinted that it will achieve an ambitious target of $1-trillion economy by 2025 from the present $ 475-billion economy. This is due to a slew of initiatives taken to spur the economic growth and attract more investments in micro, small and medium enterprises as well as mega projects.

State finance minister Sudhir Mungantiwar told DNA that the goal to make Maharashtra a $1 trillion economy is challenging but can be achieved. ''Adequate focus is given on reforms in agriculture, boost in domestic and foreign direct investment, promote infrastructure development. The government is laying emphasis on making agriculture a sustainable activity. Besides, the government has taken a lead in changing the business atmosphere by taking varied measures to increase the ease of doing business. The state was first to announce FinTech Policy and start-up policy to create an innovation-based economy and develop entrepreneurial spirit across the state,'' he said.

Industrial proposals with proposed investment of Rs 12.86 lakh crore were approved between August 1991 and February 2019. Of these, 9098 projects were commissioned (44.8%) with an investment of Rs 3.06 lakh crore (23.8%) and generated employment of about 13.23 lakh. The foreign direct investment inflows between April 2000 and December 2018 was Rs 6.90 lakh crore which was 30% of total FDI inflows at all India level.

Of the Rs 6.90 lakh crore, the state received FDI worth Rs 3.99 lakh crore between 2014-15 and 2018-19.

Furthermore, the government was paying attention to skill development, employment and entrepreneurship by setting up guidance centres to counsel, guide and help the job seekers regarding employment and self-employment. In all 50 such centres are functioning of which are 35 are at the district level, six in universities, eight for tribal candidates and one special centre for differently abled persons.

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