CM Eknath Shinde, DCM Devendra Fadnavis with Parmeswaran Iyer, CEO of NITI Aayog | FPJ
CM will lead the institute’s board of directors, which will also consist of three experts
The institute will use private partnerships as the private partners will provide active political advocacy and support in the design of investment opportunities and their execution
Various institutions and programs of the State Planning Department are brought together to form the Institute with financial support from the State Government and hand in hand with NITI Aayog.
In a significant development, the Shinde-Fadnavis government proposed establishing a state institute modeled on NITI Aayog for faster and more inclusive economic growth. Prime Minister Eknath Shinde, accompanied by senior bureaucrats, said at the meeting with NITI Aayog CEO Parameswaran Iyer that the planned state institute is making serious efforts to meet the state’s target of US$1 trillion by 2030 and 3.5 To reach US$ trillion by 2047 , will focus on agriculture and related services, health and nutrition, education, urbanization, finance, real estate and land stewardship, infrastructure development, skills and innovation, tourism and sports, and IT and communications. The name of the state institute will be announced in due course.
“Maharashtra’s goal is to increase the state’s gross domestic product (GSDP) from US$0.43 trillion in 2021-22 to US$0.75 trillion in 2025-26 to US$1 trillion by 2030, $2 trillion by 2040 and $3.5 trillion by 2047. The government proposes strengthening centre-state partnerships, setting and assessing sectoral targets, leveraging private sector and non-governmental partnerships and results-oriented roadmap for the state vision of 2047,” said a senior government official present at the meeting. He said the state institute will replace the defunct Maharashtra State Planning Agency.
The state government will soon issue the decision to set up the state institute. Various units and programs under the State Planning Department will be merged to create a State Transformation Agency (Proposed Institute) with budget support from State Government and handling of NITI Aayog.
The Board of the State Institute is headed by the CM, while the Deputy Prime Minister/Minister of Finance is the Vice-Chairman, the Chief Secretary is the Member, the Planning Secretary is the Member Secretary, and three non-official members (experts) are appointed by the State Government.
The state institute will use private partnerships as the private partners will provide active political advocacy and support in the design of investment opportunities and their execution. In addition, industry contributions to issues are translated into business models, calls for tenders (RFPs) and concession agreements for relevant user departments with the support of the institute’s team of experts and consultants. In addition, the state government will develop district/taluka-by-district performance indices to rank districts/talukas in various key sectors such as health, education, governance, infrastructure, environment and accessibility in order to use financial incentives to encourage inter-district competition.
Another government official told the Free Press Journal: “The state government has received the support of NITI Aayog for hand posture monitoring and assessment, data analysis, research, knowledge sharing, technical and financial support for state entities, connection with knowledge partners, the innovation support and the technical support sought interventions.
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