According to Deputy Chief Minister Devendra Fadnavis, Maharashtra will earn Rs50,000 crore from the securitisation of rights to the Mumbai-Nagpur Samruddhi Mahamarg, which can be roughly referred to as a sale, and this will relieve the state of the financial burden associated with its development.
The 701km six-lane corridor runs through ten districts, with the 520km Nagpur-Shirdi portion which was inaugrated in December last year.
Fadnavis stated at an event, “With this move, the state will be free from the debt of constructing the motorway in the next two years… and the money raised can be used for other issues.” He noted that the state’s debt is close to Rs6 lakh crore, which is comfortably within the limits set by the Fiscal Responsibility and Budget Management Act.
The Deputy Chief Minister further stated that once the trans-Harbour Bridge (MTHL) connecting Mumbai with Navi Mumbai and the (missing link of the) Mumbai-Pune Motorway are completed, a third Mumbai will be built in that location. “The trans-Himalayan link and the new airport in Navi Mumbai will provide a good ecosystem for new firms coming to the state,” he said.