Maharashtra’s industrial policy targets huge investment serving 40 lakh job opportunities..!

With just a month to go before the end of its term and ahead of the Lok Sabha elections, Maharashtra CM Devendra Fadnavis unveiled a new five-year industrial policy (2019-24), promising investments of Rs 10 lakh crore that would generate 40 lakh jobs.

The policy is focussed on industrial growth and development of the backward regions of Vidarbha and Marathwada. It also introduced a special component for the development of Maoist and tribal belts of Nandurbar, Washim and Gadchiroli under the industrial cluster development project.

At the launch of the policy, Chief Minister Fadnavis said, “The policy will be a game changer, opening doors for migrants abroad to return home and provide new job avenues to the sons of the soil.” While reiterating the dream of making Maharashtra a trillion dollar economy by 2025, Fadnavis pledged to strengthen foreign direct investment and industrial status of Maharashtra.

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On the employment scheme, Fadnavis said: “Eligible persons, aged between 18 to 45 years, will be trained and promoted for self employment, for which equity will be converted into back-end subsidy, which will be provided by the state government against bank loans. Under the scheme, one would get a maximum of Rs 50 lakh under the manufacturing sector and Rs 10 lakh under the service sector.” The state government will provide budgetary support to the scheme, which will be executed by the directorate of industries and khadi village industries board.

The government has further decided to set up Maharashtra Export Promotion Council on the lines of the one at the Centre to attract global investments in core sectors.


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