Maha Govt sets up Chief Secretary led committee for MMR’s development as growth hub with $300 BN economy by 2030

SANJAY JOG

The Maharashtra Government has appointed a Chief Secretary led high level committee for the implementation of the NITI Aayog’s report on making the bursting Mumbai Metropolitan Region (MMR) a growth hub with a $300 billion economy by 20230 from the present level of $140 billion. The state government, in its government resolution (GR) released on Tuesday has given a mandate to the CS led 22 member committee to monitor the speedy implementation of NITI Aayog’s recommendation, step up focus on attracting and retaining the foreign direct investment and promoting start up and employment generation in the MMR.?

Interestingly, the state government in the run up to the upcoming assembly election, likely??to take place in the second week of November, has not set up a committee headed by the Chief Minister or Industry Minister comprising ministers and elected representatives. Instead, the committee consists of only bureaucrats in charge of 11 various departments, collectors, municipal commissioners and CEOs of government undertakings. This is to expedite the inter departmental coordination and speedy disposal of various files.

Chief Minister Eknath Shinde has hailed the NITI Aayog’s report saying that its recommendations will help the state government to further boost a slew of development projects in MMR including the construction of affordable housing, development of data center in Navi Mumbai,and completion of Alibaug Multimodal Corridor. Shinde has said that the state government has cleared projects with investment of Rs 80,000 crore and the government has stepped up efforts to promote tourism along the 720 km coastline.

NITI Aayog CEO BVR Subrahmanyam in his presentation to the CM Eknath Shinde and DCMs Devendra Fadnavis and Ajit Pawar held on August 22 had recommended the formation of a state level growth hub steering committee chaired by the Chief Secretary. He had told the CM that NITI Aayog has selected MMR as the pilot city region for its development as a growth hub.

NITI Aayog has made a slew of recommendations including promotion of MMR as global services hub, affordable housing and slum rehabilitation, tourism, port-proximate integrated manufacturing and logistics hub, planned urbanisation and intensive transport oriented development, sustainability projects and world class urban infrastructure and transport. The CS led committee will now make its recommendations to achieve these targets. Thereafter the state government will start preparing and notifying a slew of policies and institutional mandates.?

NITI Aayog has said that the state government can attract a private investment of $125-135 billion, incremental GDP growth of $130-150 billion and additional capital by state government of the order of Rs 50,000 crore over 5-6 years to chase the goal of making MMR a $300 billion economy.?

‘’MMR is a $140 billion economy across 5 districts and covering 9 municipal corporations with a 25.8 million population and 10 million jobs. Historically, MMR grew at 6.1%??(FR12-20, real) against Maharashtra at 5.8% and India at 6.6% CAGR. Good news is that MMR is on a positive growth trajectory on the back of $50 billion ongoing infrastructure investments. Our vision is to grow MMR into a $300 billion economy by 2030 (9-10% CAGR, real) and $1.5 trillion economy by 2047,‘’ said NITI Aayog in its report.

According to NITI Aayog, MMR has a potential to become a global services hub due to the existing two world class business districts Wadala and BKC for financial services and after the development of Navi Mumbai Aerocity as a global aviation city. It has suggested that the rehabilitation of 2.2 million slums will create new housing stocks in addition to 0.8-1 million affordable housing for low income and middle income group segments.?