Boosting Maharashtra's Economy: World Bank's $188M Initiative

The World Bank has approved a $188.28 million loan to enhance economic growth in Maharashtra's underdeveloped districts. The initiative focuses on upgrading institutional capabilities to facilitate growth and job creation. It aims to foster private sector participation, particularly in tourism, and improve e-government services.

The World Bank has sanctioned a financial aid package worth $188.28 million aimed at stimulating economic growth in Maharashtra, India's less-developed districts.

This strategic initiative focuses on strengthening district-level planning by providing essential data, funds, and expertise to optimize the use of public resources. There is also an emphasis on improving private sector participation by advancing e-government services, particularly in the tourism sector.

The program also seeks to close development gaps by establishing a data governance framework and rewarding districts that meet specific performance targets with annual fiscal incentives. Additional enhancements are planned for the MAITRI 2.0 and RTS portals to facilitate access to government services for the private sector.

(With inputs from agencies.)