Maharashtra's Infrastructure Boost: Rs 2,000 Crore HUDCO Loan for Urban Development
The Maharashtra cabinet approved raising Rs 2,000 crore from HUDCO to support infrastructure projects. Key beneficiaries include Chhatrapati Sambhajinagar and Nagpur authorities. The decision supports AMRUT and Swachh Bharat initiatives. Additionally, funds for micro-irrigation in Akola and land allotment for the Subsidiary Intelligence Bureau were sanctioned.
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The Maharashtra cabinet has sanctioned a significant financial move by greenlighting the mobilization of Rs 2,000 crore through the Housing and Urban Development Corporation Ltd (HUDCO). This strategic decision intends to empower municipal bodies to raise matching funds essential for vital infrastructure projects across the state.
Chhatrapati Sambhajinagar Municipal Corporation will benefit with Rs 822.22 crore allocated for a critical water supply project, while the Nagpur Metropolitan Region Development Authority is poised to receive Rs 268.84 crore aimed at four sewage treatment projects. Furthermore, Mira-Bhayandar Municipal Corporation is set to advance its water supply initiatives with a Rs 116.28 crore fund.
In a complementary decision, repair funds for two minor irrigation projects in Akola district were endorsed. Enhancements to the Ghongha and Kanadi micro-irrigation projects will significantly bolster water storage and irrigation capacity. Additionally, the cabinet approved allocating government land for Subsidiary Intelligence Bureau residential quarters, to be developed at a reduced price point.
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