CURRENT AFFAIRS
CURRENT AFFAIRS
Description
The Maharashtra Cabinet, chaired by Chief Minister Eknath Shinde, approved the Maharashtra Logistics Policy 2024. The initiative aims to strengthen the state's economy by producing Rupees 30,573 crore in revenue and creating 500,000 employment over the following five years. These plans are based on the State Economic Advisory Council's suggestions.
Objectives Of The Logistics Policy
The policy has numerous main objectives-
Reducing Costs- The target is to reduce logistical costs by 4-5%, from the present 14-15%.
Saving Time- The policy tries to accelerate logistics procedures.
Going Green- It intends to reduce carbon emissions by using eco-friendly methods.
Using technology- The policy will include cutting-edge technology such as blockchain, artificial intelligence, and smart logistics management systems.
Development Of Logistics Hubs
To improve logistical infrastructure, the policy proposes the following developments-
International Mega Logistics Hub- A massive logistics hub will be built on 2,000 acres in the Navi Mumbai-Pune area, near the new international airport. The project will require an investment of Rupees 1,500 crore.
The National Mega Logistics Hub in Nagpur-Wardha- It will be erected on 1,500 acres and connected to critical transportation corridors, with an investment of Rupees 1,500 crore.
State logistic Hub- The state plans to create five logistics hubs, each comprising 500 acres, with a budget of Rupees 2,500 crore.
Regional Hubs- Five 300-acre hubs will be created in strategic areas, with a total investment of Rupees 1,500 crore.
Logistics Parks Aand Support For MSMEs
The concept aims to address urban difficulties by creating multi-purpose logistics parks with a minimum built-up size of 20,000 square feet and an investment of Rupees 5 crore. These parks will help Micro, Small, and Medium Enterprises (MSMEs) by providing financial and non-financial incentives, such as-
Interest subsidies help to minimize borrowing expenses.
Stamp duty concessions to reduce the cost of real estate transactions.
Assistance in improving technology.
- Access to electricity at industrial prices.
Future Vision
The Maharashtra Logistics Policy 2024 aims to transform Maharashtra into a premier logistics hub, thereby driving economic growth and development across the state. The policy aims to attract both domestic and foreign investment by utilizing strategic investments and a comprehensive framework.
About Maharashtra's Logistics Policy 2024
This policy also aims to boost the state's logistics sector through better infrastructure and the use of technology. It intends to improve skills, boost multimodal transportation (such as rail, road, and sea), and construct logistics parks. The policy seeks to cut logistical expenses from 13-14% to 8-9% of the state's GDP. It promotes sustainability by promoting green logistics methods. Furthermore, the government intends to deploy digital technologies for real-time monitoring and data analysis. The policy also prioritizes developing critical collaborations with industry stakeholders to promote efficiency and foster innovation in the logistics industry.
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