Maharashtra Budget 2023: On Thursday, March 9, Devendra Fadnavis, the Deputy Chief Minister and Finance Minister of Maharashtra, unveiled the ‘Panchamrut’ budget for the state for 2023-2024. Fadnavis referred to it as the state’s inaugural budget in the Amrit Kaal. The estimated budget for the year 2023-24 is Rs 5,47,450 crore, which is higher than the previous year’s allocation of Rs 4,95,404 crore. This year’s budget has emphasized five key areas, namely agriculture, infrastructure, marginalized communities and individuals, environment, and employment generation. A significant number of local bodies in the state, exceeding 75 percent, are expected to undergo elections shortly. In anticipation of the forthcoming BMC election, the Maharashtra government has revealed numerous crucial declarations for India’s financial capital.
Maharashtra Budget 2023 | Mumbai Metro
- The Maharashtra government, in collaboration with the center, is constructing a 337 km long metro network.
- Out of the total length, a 46 km section has already been opened for traffic.
- The Chief Minister, Eknath Shinde, announced that an additional 50 km stretch would be operational within a year.
- During the budget presentation, Fadnavis revealed new projects that include:
- Mumbai Metro line 10 from Gaimukh to Shivaji Chowk, Mira Road, with an estimated cost of Rs 4,476 crore.
- Mumbai Metro line 11, a 12.77 km-long stretch running from Wadala to Chhatrapati Shivaji Maharaj Terminus, with an estimated cost of Rs 5,865 crore.
- Metro line 12, a 20.75km stretch from Kalyan to Taloja, estimated to cost Rs. 5,865 crore, will be completed soon.
Maharashtra Budget 2023 | Water Supply
- The Maharashtra deputy CM revealed a Mumbai-based project worth Rs. 424 crore, which aims to connect Thane and Vasai creeks to support water transportation in the region.
- During the announcement, Fadnavis provided additional information and stated that a project worth Rs. 162.20 crores had been sanctioned for constructing a jetty and related amenities for passenger water transport at Radio Club near Gateway of India.
- This development would enable passenger transportation from South Mumbai to various destinations such as Kalyan, Dombivli, Thane, Vasai creek, and Navi Mumbai.
Maharashtra Budget 2023 | Roads and Highways
- During his budget speech, Fadnavis declared that the Mumbai-Nagpur Samruddhi Mahamarg would be expanded from the Sindkhedraja node to Shegaon in Vidarbha.
- Additionally, the state government has authorized the revised cost of Rs. 6,695 crore for the ‘missing link‘ between Khopoli-Khandala on the Mumbai Pune Expressway.
Maharashtra Budget 2023 | Mumbai Beautification Projects
- Fadnavis informed that 820 public utility improvement works have been initiated in Mumbai for beautification purposes, with an approximate cost of Rs. 1,729 crore. Among these works, 121 have already been completed, and the remaining are in progress.
- The Maharashtra government, led by Eknath Shinde, has allocated Rs. 162.2 crore for the construction of an oval marina (jetty) near the Gateway of India.
- Fadnavis also stated that the Mumbai Metropolitan Area Development Authority (MMADA) would finish several projects, such as the Parsik Hills Tunnel, Mumbai Trans Harbour link projects, and various flyover works. Moreover, the Santacruz-Chembur Link Road extension and the Chheda Nagar junction improvement flyover are likely to open soon.
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