Maharashtra aims to become $5-trillion economy by 2047: Devendra Fadnavis

Maharashtra has set a target to become a five trillion dollar economy by 2047 and is taking several steps to achieve the goal, Chief Minister Devendra Fadnavis said on Saturday. Addressing the meeting of the NITI Aayog Governing Council, Fadnavis said his government was fully prepared to implement its vision for development and preservation of heritage, which was aligned with the central government’s goal of Viksit Bharat (developed India) by 2047.

Fadnavis said his government was planning ‘Maharashtra 2047’ vision in three stages with the aim to emerge as a one-trillion-dollar economy by 2030.

He said the government has undertaken a 100-day programme based on the principles of good governance, citizen-centric reforms, and accountability, during which over 700 targets were achieved by various departments.

“Now, a 150-day action plan is underway, with a long-term vision for 2047, a medium-term plan for 2035 (during the state’s 75th anniversary), and a short-term five-year plan for 2029 with annual targets,” he said.

“The goal is to transform Maharashtra’s economy into a USD one trillion economy by 2030 and USD five trillion by 2047,” Fadnavis said.

At the outset, Fadnavis congratulated the Indian armed forces and Prime Minister Narendra Modi for the successful execution of ‘Operation Sindoor’. He also unveiled a roadmap for green energy transition and said that power purchase agreements for 45,500 MW have been signed, of which 36,000 MW is green energy. “By 2030, 52 per cent of the state’s energy will come from green sources,” Fadnavis said.

He said under the ‘Saurgram’ (Solar Village) Scheme, 15 villages have already been turned to solar-powered completely.

Fadnavis said Maharashtra has emerged as an investment magnet and attracted Rs 1.39 lakh crore in foreign direct investment (FDI) in the first quarter of 2024-25 — the highest in the country.