The state Budget has given a boost to the services sector to generate more employment and fuel growth along with concerted efforts to bridge the rural and urban divide. The sectors which have been accorded priority includes agro and food processing, defence, aerospace, logistics, fin-tech, textiles, startups, tourism, Artificial Intelligence and skill development. The government believes only accelerated growth in the services sector is the only way to attain a targeted Gross State Domestic Product (GSDP) of 15.5 per cent as manufacturing has reached its saturation point and agriculture has its challenges.
The Budget also puts an emphasis on growth of rural Maharashtra. The state government allocated Rs 3,252 crore for rural development and Rs 12,857 crore for transport. For rural road infrastructure, the government made allocations of Rs 2,558.40 crore for construction of 7,000 km roads under the Mukhyamantri Gramin Marg Yojna. In the last three years, 2,600 km of roads have been built. Across the state, Rs 10,828 crore has been proposed for road construction.
The startup policy targets to provide employment to five lakh people by investing Rs 5,000 crore. It is expected to benefit 10,000 startups. Taking forward the Skill India concept of Prime Minister Narendra Modi, the ‘Skilled Maharashtra, Employable Maharashtra’ initiative will make employment, self-employment opportunities available to the state’s youth aged between 15 and 45 years through skill training.