Maharashtra Sets Ambitious Growth Plan, CM Fadnavis Says State Aims To Be A $5 Trillion Economy By 2047

Fadnavis detailed the state's strategic approach through the ‘Maharashtra 2047’ plan, which is being rolled out in three phases.

Fadnavis noted that Maharashtra attracted Rs 1.39 lakh crore in foreign direct investment during the first quarter of the 2024-25 fiscal year—more than any other state in the country.

Source : ANI

In a bid to transform Maharashtra into a five trillion dollar economy by 2047, Chief Minister Devendra Fadnavis outlined a structured long-term development roadmap during the NITI Aayog Governing Council meeting on Saturday.

The state, he said, is actively aligning its growth trajectory with the central government's broader vision of ‘Viksit Bharat’ by 2047, reported PTI.

Fadnavis detailed the state's strategic approach through the ‘Maharashtra 2047’ plan, which is being rolled out in three phases. The short-term goal focuses on reaching specific annual benchmarks by 2029, the medium-term target is set for 2035—marking the state's 75th foundation year—and the long-term objective culminates in 2047. “The goal is to transform Maharashtra's economy into a $1 trillion economy by 2030 and $5 trillion by 2047,” Fadnavis stated.

He added that the government had already launched a 100-day programme emphasising good governance, accountability, and reforms centred around citizen welfare. Within this framework, more than 700 departmental targets were accomplished. Building on this momentum, the state is currently executing a 150-day plan designed to further consolidate the foundation for the broader 2047 vision.

Green Energy and Investment Drive Gain Momentum

The Chief Minister also shared the state’s efforts toward a sustainable energy transition. “Power purchase agreements for 45,500 MW have been signed, of which 36,000 MW is green energy,” he said. Fadnavis underscored that Maharashtra aims to generate 52 per cent of its energy from green sources by 2030. Under the ‘Saurgram’ initiative, 15 villages have already made the switch to complete solar power usage.

Further highlighting the state's economic appeal, Fadnavis noted that Maharashtra attracted Rs 1.39 lakh crore in foreign direct investment during the first quarter of the 2024-25 fiscal year—more than any other state in the country. “Maharashtra has emerged as an investment magnet,” he emphasised.

At the start of his address, Fadnavis also extended his congratulations to Prime Minister Narendra Modi and the Indian armed forces for the successful completion of ‘Operation Sindoor’.