Rajasthan Chief Minister Greenlights Rs 46,000 Crore Investment Package for Mega Projects
In a significant move to bolster economic growth and job creation, Rajasthan Chief Minister Bhajan Lal Sharma on Saturday approved customised incentive packages for ten ultra mega projects. These projects represent a massive investment of Rs 46,000 crore and are poised to generate employment for more than 12,000 individuals across the state.
Strategic Decision at Board of Investment Meeting
The landmark decision was taken during the sixth meeting of the Board of Investment (BOI), which convened at the Chief Minister's official residence. The approved projects span a diverse range of critical sectors, including solar module and cell manufacturing, renewable energy, cement production, mines and minerals, automobile components, chemicals, textiles, and tourism infrastructure.
Chief Minister Sharma emphasized that "revenue growth along with large-scale employment generation remains the state government's top priority." He further stated, "These ultra mega projects will significantly strengthen Rajasthan's economy and create new, lucrative opportunities for our youth, driving sustainable development across the region."
Customised Incentives Under RIPS Framework
To attract and facilitate these substantial investments, Sharma granted approval for customised packages under the Rajasthan Investment Promotion Scheme (RIPS). This initiative is designed to promote investments in key sectors by offering tailored benefits. The Chief Minister issued clear directives to the Chief Secretary, instructing officials to ensure regular and rigorous monitoring of the progress made by companies availing RIPS benefits and customised incentives.
"It is imperative that investment proposals translate into actual, operational projects on the ground. Continuous monitoring is essential to guarantee timely implementation and to hold all stakeholders accountable," Sharma asserted during the meeting.
Enhanced Monitoring for Balanced Development
In a bid to ensure effective execution, the Chief Minister reviewed the progress of Memorandums of Understanding (MoUs) signed under the Rising Rajasthan Global Investment Summit. He instructed officials to implement district-wise monitoring of these agreements. "District-level tracking of MoUs will ensure balanced regional development and enhance accountability in execution, preventing disparities and fostering inclusive growth," Sharma explained.
Boosting Local Industries and Handicrafts
Furthering the state's economic agenda, Sharma directed officials to aggressively promote the ‘One District–One Product' (ODOP) initiative. "We must actively encourage district-specific products and enhance their market access, both nationally and globally, to boost local industries and artisans," he said.
To strengthen Rajasthan's renowned handicraft sector, the Chief Minister also instructed that dedicated retail spaces be identified at major tourist and religious destinations. "Our handicrafts are not just products; they represent the rich cultural identity and heritage of Rajasthan. We must provide them with better platforms and visibility at key tourist locations to support artisans and promote our cultural legacy," he remarked.
This comprehensive approval of mega projects, coupled with strategic directives for monitoring and local industry promotion, underscores the Rajasthan government's commitment to transforming the state into a hub of economic activity and employment, ensuring that investments yield tangible benefits for its citizens.
