‘Mumbai-Centric Growth Agenda Reinforces Sustainable And Inclusive Development,’ Says MLA Ameet Satam

Mumbai, Feb 01: Under the leadership of Prime Minister Narendra Modi, the Union Budget presented by Finance Minister Nirmala Sitharaman reflects a clear focus on sustainable growth rather than short-term populism.

With a growth rate of nearly 7 per cent, India has emerged as the fastest major economy to recover from COVID-19, lifting millions out of poverty and improving living standards nationwide.

Three guiding priorities

The Budget is guided by three key priorities: accelerating growth through infrastructure and innovation, fulfilling aspirations by empowering youth and entrepreneurs, and advancing the vision of ‘Sabka Saath, Sabka Vikas’ to ensure inclusive progress. As India’s financial capital, Mumbai is central to this vision, with six major initiatives announced to boost its development.

Tax exemptions for TBM manufacturers and the ‘Paatal Lok’ project

Tax exemptions for domestic Tunnel Boring Machine manufacturers will directly benefit Mumbai’s ambitious 70-km underground tunnel network, the ‘Paatal Lok’ project, conceptualised by CM Devendra Fadnavis ji. By reducing dependence on imports and encouraging indigenous production, this measure will lower costs, accelerate metro construction, and promote self-reliance.

Mumbai–Pune high-speed rail corridor

The proposed high-speed rail corridor between Mumbai and Pune will enhance regional connectivity, reduce travel time, and strengthen business integration. It will also support industrial and service clusters.

Rs 7 lakh crore liquidity to MSMEs

MSMEs, the backbone of India’s economy, will benefit from Rs 7 lakh crore liquidity support. With Mumbai and Maharashtra hosting one of the largest MSME bases, this funding will help entrepreneurs modernise, expand operations, and generate large-scale employment.

Promoting the Orange Economy

Support for the Indian Institute of Creative Technology in Mumbai marks a strategic investment in creative industries. Establishing labs in schools and colleges will empower Gen Z youth to pursue careers in media, entertainment, and digital platforms. This will position Mumbai as a global creative capital.

Incentives for municipal bonds

A Rs 100 crore incentive for every Rs 1,000 crore raised through municipal bonds will unlock resources for urban infrastructure. For BMC, Asia’s largest municipal body, this will fund upgrades in transport, sanitation, and public utilities.

SHE-Marts for women’s empowerment

The creation of SHE-Marts for women’s self-help groups will provide organised marketplaces for products made by Mahila Bachat Gats. This is yet another example of empowering the ladki bahins.

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Conclusion

In short, this pragmatic and development-oriented Budget strengthens India’s growth trajectory and paves the way for India’s journey towards becoming Vishwa Guru.

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