Maharashtra Cabinet Approves New Policy To Boost High-Tech Mega Projects; ₹2 Lakh Crore Investment Expected

In a cabinet meeting led by Chief Minister Eknath Shinde, a new policy was approved to strengthen the Mega Project Initiative for High Technology, aiming to promote more high-value projects across the state.

The initiative allows mega projects with investments of ₹10,000 crore or more, regardless of sector classification, to receive industrial incentives. These incentives will be based on at least 100% of fixed capital investment for collective schemes and 11% for investments exceeding ₹20,000 crore.

To date, five projects have received approval, with two more under review by the cabinet subcommittee and three pending approval. These seven projects are expected to attract ₹1.79 lakh crore in investment and create 60,000 jobs across Maharashtra. With the approval of three additional projects, the total investment from ten projects is projected to exceed ₹2 lakh crore, generating over 100,000 jobs.

To expedite decision-making, several enhancements have been introduced, giving the cabinet subcommittee under the Chief Minister the authority to make final decisions. The initiative also includes capital grants for the aerospace and defense industries, with a cap of three projects in five key manufacturing sectors, totaling ten projects.

The inclusion of districts like Palghar, Vidarbha, Marathwada, Ratnagiri, Sindhudurg, Dhule, and Nandurbar is also planned. Special incentives will be provided through the collective incentive scheme for priority sectors that submit more than ten proposals, without the need for capital grants.