7.12.12

Mumbai makeover


The Maharashtra state government is planning to invest more than Rs 2.56 lakh crore for development projects in the next 20 years.
The amount is in addition to the current cost of Rs 1.57 lakh crore being spent on 17 development projects in various sectors including transport, water supply, housing, power and solid waste management.
Finance minister and guardian minister of Mumbai Jayant Patil made a presentation of the Mumbai projects at Indian Merchants Chamber.
The minister said the state government was committed to make the city an international finance hub and investment for it would be arranged.
The government’s estimate of the city population in the next 20 years is 3.5 crore. The Rs 20,681-crore elevated rail corridor between Virar and Oval Maidan is one of the ambitious projects of the state government. The 63.2-km corridor with 26 stations has been planned keeping in mind the exhausted capacity of the existing rail services.
With the projected investment of Rs 2,56,000 crore in development projects in the next 20 years, the government expects employment generation of 1.5 crore jobs.
Mumbai Metropolitan Region contributes 37% of the state Gross Domestic Product (GDP) and 70% of the tax collection. The MMR is 2% of the state area and comprises of 20% of the state population.
The presentation said 52% of the Mumbai population use rail services while 26 % and 22 % travel by buses.
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