Maharashtra claims to be a game changer of their state economic condition as the state government has declared that it plans to acquire $10 billion dollar worth of funds from countries like Saudi Arabia, Japan, and Canada. These funds will be used to erase state debt, and will also be used to fund infrastructure.
The state, which already has over 3.3 lakh crore (INR) worth of debt plans to use the funds to clear the same. Maharashtra officials are optimistic about how the funds are going to be allocated within the next three months.
Last month, Kaustubh Dhavse (officer on special duty), a key official in the Chief Minister’s office, who looks after the execution of key infra projects in the state travelled to Delhi where he met an official of Department of Economic Affairs (DEA) and other finance ministry officials to explore the possibility of the state giving comfort letters.