In a major decision, the Maharashtra government on Saturday in-principle okayed a proposal of the Mumbai Metropolitan Region Development Authority (MMRDA) to raise Rs 60,000 crore loan for executing infrastructure projects in the financial capital of India and its suburbs.
The decision was taken at the Cabinet meeting presided over by Maharashtra Chief Minister Eknath Shinde and attended by Deputy Chief Minister Devendra Fadnavis.
Besides okaying plans of MMRDA to raise Rs 60,000 crore, the government has also decided to stand guarantee for the first tranche of Rs 12,000 crore.
The MMRDA is executing various projects like the Mumbai Metro and Mumbai Trans Harbour Link and a series of road projects that would criss-cross the MMR.
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