Maharashtra Cabinet clears road projects worth over ₹31,000 crore
GS3Economy · S&T · Environment · Security· Infrastructure (energy, ports, roads, railways)· Prelims·
Why in news
The Maharashtra Cabinet approved road projects worth over ₹31,000 crore, utilizing external funding from the Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB).
Background
The project involves a two-phase implementation plan, with Phase I focusing on 1,500 km of roads. The Mukhyamantri Gram Sadak Yojana Phase III includes ₹6,429 crore for 3,500 km of rural roads and bridges funded via an AIIB loan.
Facts for Prelims
- BodyAIIB: Asian Infrastructure Investment Bank
- BodyNDB: New Development Bank
- FactMukhyamantri Gram Sadak Yojana Phase III: ₹6,429 crore for 3,500 km of rural roads
- FactTotal approved road projects: over ₹31,000 crore
For Mains
Q. Discuss the significance of multilateral funding from institutions like AIIB and NDB in accelerating India's rural and urban infrastructure development.
Dimensions to cover in your answer
- Fiscal space optimization: Leveraging external debt to fund high-capital infrastructure without immediate strain on state exchequer
- Rural connectivity: Bridging the urban-rural infrastructure divide to enhance logistical efficiency and socio-economic mobility
Keywords: Multilateral funding · Infrastructure development · Fiscal federalism · Rural connectivity · Public-Private Partnership
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