22 August,2024 09:47 PM IST | Mumbai | mid-day online correspondent
Representational Pic/File
A report prepared by the NITI Aayog on the development of the Mumbai Metropolitan Region (MMR) aims to double the region's Gross Domestic Product (GDP) in the next five years, an official statement said on Thursday.
This is likely to make Mumbai and its satellite towns a global economic hub.
The MMR, which comprises Mumbai city, Mumbai suburbs, Palghar, Raigad and Thane districts, accounts for a third of Maharashtra's GDP, the report noted.
At present the region's GDP is Rs 12 lakh crore (USD 140 billion) and it should reach Rs 26 lakh crore (USD 300 billion) by 2030, the report submitted to Maharashtra CM Eknath Shinde said.
The development of Mumbai is seen as crucial for the state's overall progress, particularly in improving infrastructure and communication. Maharashtra Chief Minister Eknath Shinde noted that Maharashtra continues to be a preferred destination for entrepreneurs.
The report was discussed at a meeting held at the Chief Minister's residence, attended by Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar, NITI Aayog CEO B.V.R. Subrahmanyam, Chief Secretary Sujata Saunik, Additional Chief Secretaries Dr. I.S. Chahal and Vikas Kharge, Principal Secretary Brijesh Singh, Deputy Chief Minister's Principal Secretary Dr. Shrikar Pardeshi, NITI Aayog's O.P. Agarwal, Chief Economic Advisor Anna Roy, and other senior officials.
During the meeting, NITI Aayog's presentation highlighted the goal of making Mumbai and its surrounding areas a global financial hub. CEO Subrahmanyam stated that NITI Aayog is preparing a vision for thirteen states, with special attention to the economic development of cities. He mentioned that pilot projects are being launched in Mumbai, Surat, Varanasi, and Visakhapatnam.
The report said the Maharashtra government needed to focus on seven sectors: Developing Mumbai into a global services hub, facilitating affordable housing, transforming MMR into global tourism centre, integrated development of ports in MMR, creating an industrial and logistics hub, development of cities and sustainable, all-inclusive infrastructure facilities of global standards.
In private sector, investment of about Rs 10 to 11 lakh crore was needed, and cities should be developed as growth engines, the report said.
Key areas of focus include:
- Developing Mumbai as a global services hub
- Promoting affordable housing
- Transforming MMR into a global tourism center
- Integrating port development in MMR for industrial and logistics growth
- Planning sustainable and inclusive cities
- Enhancing global-level civic infrastructure
