Maharashtra promoting Mihan and Aurangabad as investment destinations

Maharashtra Chief Minister Devendra Fadnavis is very confident about multinational companies investing in the state. He said that in the coming years new investment will directly generate 1 lakh jobs and the indirect job generation would be between 2 and 3 lakh.

"Companies have already purchased land and have started construction on it. But the Indian economy would have to grow at a faster rate if a lot of foreign investment is to come here," he said while interacting with newspaper Editors here on Saturday. Fadnavis, who completes a year in office on October 31, is gung-ho of good times coming to Maharashtra Commodity Market Astrology Tips

The CM said Japanese companies are especially keen on investing in state. "The Japanese are extremely upset over the slowdown in China and have realized that they will have to invest in India. However, they are very cautious by nature and need lot of government support, which we are providing. Chinese companies have also realized that they will have to come to India. They have huge public sector undertakings which are not getting much orders for manufacturing from international parties," he added.

According to Fadnavis, Taiwanese electronic giant Foxconn is working fast on its site near Mumbai. "Its chief executive officer (CEO) Terry Gou has promised to present an Apple product made at the Mumbai unit within an year. Another Japanese company Softbank (telecom multinational) is ready to set up a solar panel unit here. We are providing them 3,000 hectare land in Vidarbha for this. It is government land but we will provide extra compensation to farmers to acquire it. Another precision machinery manufacturing company feels that Maharashtra is the best place to invest in India," he said Jackpot Stocks Trading Tips

Foreign investment is coming not just from Japan and China. A Canadian pension fund has decided to invest 11,000 crore in the state while two Gulf-based companies want to invest $8 billion and $10 billion, respectively. International funding agencies were ready to invest in infrastructure projects.

"JICA is keen to fund the Mumbai Trans-Harbour Link at 1.75% interest and disburse the loan by December itself. JICA and ADB have already showed willingness to fund the Nagpur-Mumbai super expressway too," he said.

The CM admitted that Mumbai and Pune were preferred destinations for investors but said that land was not available near these cities. "We are promoting Aurangabad and Mihan (in Nagpur) as investment destinations for primary industries and smaller cities for ancillary units. There is water scarcity in Aurangabad but still auto parts companies are setting units there," he added Share Market Astrology

The BJP leader feels that smart policing was the way ahead for Mumbai and Tier II cities. "We have a police force of 2.5 lakh and can't expand it further. We need surveillance-based policing. Cisco has agreed to invest 800 crore on smart policing. Pune is fully covered by close circuit television cameras (CCTVs). The murder of a young girl was cracked by the police with help of CCTV footage. The convoys of VIPs are now monitored by CCTVs and actual police deployment requirement is now very little," he said.

The CM admitted that police officers wanted postings in Mumbai and Pune only. "However, we have made a rule that after the first promotion you will have to serve in Nagpur revenue division, then Amravati, Aurangabad and Nashik. This has ensured that cities and towns outside Mumbai-Pune belt are not bereft of officers. Same formula has been applied to other departments too," he said Nifty Trading Tips

Fadnavis expressed confidence on arresting the sharp power tariff hikes every year. "We have rationalized the coal linkages which has led to saving of between 500 and 1,000 crore. The conditions for imported coal supply were changed, which has led to sharp decline in rates. The plant load factor (PLF), which was 50% due to mismanagement and corruption, has increased by 10% and we intend to increase by another 5%," he said.

The CM revealed that old Mahagenco power generation units would be gradually phased out. "It is actually economical to keep these units shut down and pay them fixed charges and then buy power from private plants. Secondly, new Mahagenco units will come online within a few months. It makes sense in supplying coal to these units rather than the ones that break down frequently," he said.

Fadnavis claimed that his pet water conservation project Jalyukta Shivar and release of agricultural pump connections would alleviate the agrarian distress. The Shivar project would provide water for the rabi crop even in the parched Marathwada. His government has also asked nationalized banks to increase their presence in rural areas so that farmers could easily get farm loans Indian stock market astrology prediction