CM Devendra Fadnavis dismisses Opposition claims, citing RBI figures as proof of the state’s dominance
Chief Minister Devendra Fadnavis during the Budget session of the state Assembly. Pic/PTI
Chief Minister Devendra Fadnavis, in the state Legislative Assembly on Friday, reaffirmed that Maharashtra tops the chart when it comes to Foreign Investment (FI) in India. In fact, the CM dismissed claims by the Opposition that Gujarat is the favourite destination for investment and is ahead.
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In his reply to the debate on the Governor’s address, Fadnavis maintained that in the first nine months of the financial year, Maharashtra received R1.39 thousand crore through FI. The FI investment received by Maharashtra is three times higher than that of Gujarat.
“Even if one combines the investment received by Karnataka, Gujarat and Delhi, they still fall way short of Maharashtra’s total,” the CM added.
The CM cited that in 2016-17, the state had received R1.31 thousand crores through FI. “It is the Reserve Bank of India (RBI) that releases the number after the investment is done. This year, fourth-quarter numbers are yet to be announced and added to the total,” Fadnavis claimed.
Last year, when Fadnavis and a delegation visited Davos to attend the World Economic Forum (WEF), the opposition, especially Shiv Sena (UBT) leader Aditya Thackeray, had criticised the government for signing MoU with Indian companies. Fadnavis stated that in 2022 Aditya Thackeray too went to Davos and signed MoUs with Indian companies only.
Metro network
Fadnavis stated that the Metro 3 line will be completely operational by June. Further speaking about the Metro infrastructure, the CM stated that between 2014 and 2019, 10 Metro lines were approved; of these, some are operational, some are in the final stages, and some are under construction. “Efforts would be made for all Metro lines to be operational by 2027,” the CM added.
Replying to a query on stalled Thane Metro work, the CM said the Metro has two phases: One from Thane to Bhiwandi and the second from Bhiwandi to Kalyan. “Nearly 80 per cent of the work on Phase 1 is complete. In Phase 2, some rehabilitation is required along 5 km of the line. As a solution, the government has decided to go underground for this stretch. Once the project report is received, the work will commence at a good pace,” Fadnavis said. The CM added that Metro Line 2B (D N Nagar in Andheri to Mandale) would be completed by October 2026. “Phase 1 would start by December 2025,” he said.
Coastal Road
Fadnavis said his government feels that the Coastal Road till Virar is a solution to decongest traffic on western line. Fadnavis pointed out that tenders for Versova to Madh and Versova to Bhayander have been floated. For taking the bridge to Virar, the proposal through the government of India has been given to JIKA.
Solar subsidy
The landing cost of power per unit comes to around R8 for the state government. But it gives subsidies of R6.5 to farmers and provides electricity at R1.50. But by December 2026, all the farmers will get their power through solar. “At present, of the 16,000 megawatts (MW), 2000 MW is through solar. By December 2026, all power supply requirement for farms will be through solar energy,” the CM said. Fadnavis further stated that this will drastically bring down the subsidy cost that the state government has to bear.
On rift within Mahayuti
Speaking about reported rifts between him and Shinde, the CM said, “We all three (Fadnavis, Pawar and Shinde) are having coordination. At times, in some of the meetings of the three, two or one of us are not present. Immediately, the media people speculate rifts within the government. This is not the case, but without verifying, this news is carried.”
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