Key sectors

• Aggregate deposits and credit of scheduled commercial banks in Maharashtra stood at US$ 370 billion and US$ 394 billion, respectively, in 2019-20.
• Maharashtra Industrial Development Corporation (MIDC), CIDCO and Software Technology Park of India developed 37 public IT parks, which are functioning in the state with an investment of ~Rs. 18,000 crore (US$ 2.5 billion).
  • MIDC approved 546 private IT parks with a proposed investment of Rs. 92,484 crore. Of these, 199 parks are already operational with an overall investment of Rs. 29,729 crore (US$ 4.1 billion) and employ ~7.75 lakh people (until November 2020).
• As of FY25 (until august), the state had a total installed power generation capacity of 48,942.07 MW, of which the private sector was the largest contributor with a capacity of 27,166.42 MW, followed by 13,452.97 MW from state utilities and 8,322.68 MW from central utilities.
• The Vehicle Scrappage Policy, a government-funded programme was launched in August 2021 to replace old vehicles with modern & new vehicles on Indian roads. The state of Maharashtra is outlining SOPs (that will be soon rolled out) for setting up digitised scrapping centres.
• In December 2020, Bhabha Atomic Research Centre (BARC), in Mumbai, developed the indigenous ‘Ruthenium 106 Plaque’, a therapy for eye cancer, to treat the ocular tumour.
• On September 8, 2021, the Central government approved a production-linked incentive (PLI) for the textile sector with a budgetary outlay of Rs. 10,683 crore (US$ 1.45 billion) which is likely to benefit Gujarat, U.P., Maharashtra, Tamil Nadu, Punjab, Andhra Pradesh, Telangana, and Odisha.
• In December 2020, Union Minister for Skill Development and Entrepreneurship, Mr. Mahendra Nath Pandey inaugurated the first batch of the Indian Institute of Skills in Mumbai, a joint initiative between the Ministry of Skill Development & Entrepreneurship (MSDE), Government of India and Tata Indian Institute of Skills.
• Under the State Budget 2021-22, the government spent 5.2% of its budget on roads and bridges, which is higher than the average allocation by states (4.3%) for roads and bridges (Rs. 22,608 crore or US$ 3.06 billion allocated for construction of roads and bridges).
• Under the State Budget 2021-22, the government approved the construction of the Pune-Nashik medium high-speed railway line with a proposed length of 235 km and estimated cost of Rs. 16,039 crore (US$ 2.18 billion); Nashik Metro Neo Project, a total length of 33 km and estimated cost Rs. 2,100 crore (US$ 286.03 million); Metrolite system in Thane city at an estimated cost of Rs. 7,165 crore (US$ 975.92 million) and Pimpri Chinchwad to Nigdi Corridor project at an estimated cost of Rs. 946.73 crore (US$ 128.95 million).
• In 2021, tourist arrivals in Maharashtra stood at 43.6 million (domestic) and 0.2 million (foreign).
• In May 2022, the state government of Maharashtra signed MOUs with 23 international firms to receive investments worth Rs. 30,379 crore (US$ 3.91 billion).