The Bharatiya Janata Party (BJP) state unit has hailed the selection of Fadnavis for the crucial WEF conclave, saying that he has been handpicked by none other than Prime Minister Narendra Modi. However, government sources say Fadnavis has an uphill task to project Maharashtra's pre-eminence in attracting investments, despite burgeoning competition from other states.
Maharashtra's revenue deficit has risen sharply to Rs 26,000 crore from Rs 4,500 crore in March last year. The revenue deficit is expected to surge at Rs 40,000 crore by end of March 2015, as the government has announced relief and rehabilitation packages to help farmers affected by various natural calamities. Despite repeated requests, the Centre has yet to release Rs 4,500 crore demanded by the state government.
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Further, the chief minister recently admitted that the government might have to raise loan to pay wages, salaries and pension of its two million employees. The wage bill for the current fiscal is estimated at Rs 85,000 crore.
Economist Bhalchandra Mungekar told Business Standard: ''Fadnavis as the chief minister will have to struggle hard to convince the international investors to invest in the state and also assure that he will create financial, physical and administrative infrastructure conducive for foreign investments.''
A senior BJP minister however, said the government had taken a slew of decisions, including reduction in number of approvals and permission to 25 from 76 required for an investor in the state.
Besides, the government has released draft for its new information and ITES policy by proposing host of sops. Industries minister Subhash Desai has announced that development of clusters in textile, manufacturing, engineering and other sectors.