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The Maharashtra cabinet has approved a proposal to secure financial assistance from the Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB) for major road infrastructure projects across the state. The funding is expected to support Phase III of the Chief Minister's Gram Sadak Yojana and the Maharashtra State Road Improvement Project, aimed at enhancing road connectivity and transport infrastructure. The cabinet also approved the expansion of Hyderabad (Sind) National Collegiate University in Mumbai by bringing six educational institutions under its framework, strengthening higher education infrastructure in the city.
The Maharashtra cabinet has approved a proposal to secure a USD 50 crore loan from the Asian Infrastructure Investment Bank (AIIB) for works under Phase III of the Chief Minister's Gram Sadak Yojana, further strengthening the state's focus on improving rural road connectivity and transport infrastructure.
The decision was taken at a cabinet meeting held in Mumbai during the past week. Alongside the rural roads programme, the state government also cleared proposals related to large-scale road improvement projects and the expansion of a Mumbai-based cluster university.
As part of the infrastructure push, the cabinet approved a proposal to obtain financial assistance from the Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB) for the Maharashtra State Road Improvement Project. According to the official statement, both multilateral lending institutions will provide financial assistance of INR 8,700 crore each for road development and improvement works across Maharashtra.
The proposed funding is expected to support the upgrading of existing road networks, improve connectivity between urban and rural regions, and facilitate faster movement of people and goods. Improved road infrastructure is also expected to contribute to regional economic activity by enhancing access to markets, industrial centres and social infrastructure.
The approval comes as Maharashtra continues to invest heavily in transport infrastructure through a combination of state funding, multilateral financing and public infrastructure programmes. In recent years, the state has undertaken several road and expressway projects to improve connectivity and support economic growth across districts.
Separately, the cabinet approved the inclusion of six colleges as constituent institutions of Hyderabad (Sind) National Collegiate University, Mumbai, which operates as a cluster university model.
The institutions brought under the university framework include Principal K M Kundnani College of Pharmacy, Kishinchand Chellaram Law College, Smt Mithibai Motiram Kundnani College of Commerce and Economics, Rishi Dayaram and Seth Hassaram National College and Seth Wassiamull Assomull Science College, and Thadomal Shahani Engineering College.
The state government indicated that the move is intended to strengthen the academic structure of the cluster university while expanding access to higher education opportunities. The integration of these institutions is expected to improve academic collaboration, resource sharing and multidisciplinary learning within the university ecosystem.
Source PTI
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