In a significant move, the Maharashtra state cabinet has granted approval for government banking transactions to be conducted through the state cooperative bank. During the same session, the cabinet also sanctioned a cluster housing project in Thane to address affordable housing needs. Additionally, the cabinet made the decision to subsidize interest on loans to support cotton spinning mills for the next five years and to amend labor laws to extend welfare scheme benefits to construction laborers. Further steps included introducing a new policy to ensure consistency among institutions’ programs like Barti, Sarthi, MahaJyot, and Amrut, along with the creation of four new Charity Deputy Commissioner posts.
The cabinet, presided over by Chief Minister Eknath Shinde, authorized state government offices to engage in transactions with the Maharashtra State Cooperative (MSC) Bank. The cabinet also approved investments by state government public sector undertakings (PSUs) in the bank, based on the bank’s pivotal role in the cooperative sector. Notably, the bank received an ‘A’ grade from auditors, and the Reserve Bank of India (RBI) imposed no restrictions, as confirmed by a CMO officer post-cabinet meeting.
Cluster Redevelopment Scheme in Thane Among other significant decisions, the state government gave the green light to a cluster redevelopment scheme in Thane city, overseen by Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MahaPreit), an affiliate of the Mahatma Phule SC Development Corporation focusing on renewable energy and infrastructure technology. The Thane Municipal Corporation (TMC) had previously entered into an agreement with MahaPreit for the development of sections of the hilly bungalow areas, Hazuri and Kisannagar.
The cabinet’s approval extends to this affordable mass-housing project as part of the urban revitalization plan. Furthermore, the state cabinet endorsed a 1320 MW power project utilizing supercritical technology in Koradi, near Nagpur, replacing the phased-out 1250 MW old units. The project’s budget received cabinet approval with an allocation of Rs10,625. The state government is set to provide Rs2,125 crore as capital over the next five years, with the remaining 80 percent to be raised by MahaGenco from banks and other institutions.
Continuation of Textile Sector Support Scheme The cabinet also decided to extend the scheme for subsidizing interest on loans obtained by cooperative spinning mills in the state, further aiding the textile sector. This initiative, initiated by the state government, covers the interest on loans availed by cooperative spinning mills from financial institutions and the national cooperative development corporation. The cabinet’s decision extends the scheme for five more years, with certain modifications. Importantly, the scheme will only apply to new loans granted to cooperative mills for a duration of up to five years.
Amendments to Welfare Scheme Beneficiary Selection The cabinet also approved amendments to the rules governing beneficiary selection for various welfare schemes aimed at supporting building and other construction workers. Additionally, the cabinet sought to establish uniformity among the schemes of institutions such as Barti, Sarthi, MahaJyot, and Amrut.
Establishment of a New Veterinary College The cabinet’s decisions also encompassed the establishment of a new veterinary degree college in Ahmednagar district. Moreover, four new posts of Charity Deputy Commissioners will be created at Nashik, Pune, Nagpur, and Nanded.
