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Maharashtra Creates New IT & AI Dept, Lists Mahavitaran on Stock Market

The Maharashtra Cabinet has approved the creation of a new independent department dedicated to Electronics, Information Technology, and Artificial Intelligence to accelerate digital governance. It also cleared the financial restructuring and stock market listing of the state power distribution company, Mahavitaran. Further decisions include establishing a geospatial technology application centre and restructuring the state's remote sensing body into a company. The moves are part of the state's push to become a trillion-dollar economy and a leader in technology and startups.

Key Points: Maharashtra Cabinet Approves New IT & AI Department

  • New IT & AI department created
  • Mahavitaran to be listed on stock exchange
  • Geospatial tech centre established for governance
  • Rs 32,679 crore restructuring for power discom
3 min read

Maha Cabinet approves new dept for electronics, IT, AI and listing of Mahavitaran

Maharashtra Cabinet approves new Electronics, IT & AI department, listing of Mahavitaran, and geospatial tech reforms for Viksit Maharashtra vision.

"technology will serve as the foundation of this economic growth - Chief Minister Devendra Fadnavis"

Mumbai, April 7

In a major step towards achieving the 'Viksit Maharashtra' objective within the 'Viskit India 2047' vision, the Maharashtra Cabinet, chaired by Chief Minister Devendra Fadnavis on Tuesday gave approval for the establishment of a new independent department for Electronics, Information Technology, and Artificial Intelligence.

The Directorate of Information Technology will be transformed into the Directorate of Electronics, IT, and AI. A new IT Cadre, comprising permanent positions for ministerial departments, the Commissioner's office, and all districts, will be created to accelerate IT, AI, and digital governance in the state.

The state Cabinet's move comes after the CM Fadnavis recently told the state legislature that Maharashtra is leading the way in the space of AI startups. He further stated that the state government is making special efforts to promote fintech and AI startups as it seeks to make the state a trillion-dollar economy.

He added that technology will serve as the foundation of this economic growth, and the government is positioning the state as a leader in the startup and technology sector.

The state Cabinet also cleared the financial restructuring of the state power distribution company Mahavitaran Government bonds that will be issued in the capital market for state-guaranteed loans amounting to Rs 32,679 crore.

Additionally, the agricultural distribution business will undergo a demerger (Agri Demerger). Furthermore, Mahavitaran will be listed on the stock market.

Further, the Cabinet also cleared the establishment of the Maharashtra Geotechnology Application Centre (MahaGeoTech) company to bring speed and efficiency to administration using geospatial technology.

This centre will focus on modern technology, research, geospatial innovation, and entrepreneurship, enabling educational programs for students, professionals, and researchers.

The state Cabinet also approved the restructuring of the Maharashtra Remote Sensing Application Centre (MRSAC) as it will now become a company. Its registration under the Societies Act of 1860 will be cancelled, and it will be established as a company under Section 8 of the Companies Act, 2013.

This decision will accelerate projects related to road information systems, urban planning, Jalyukt Shivar (watershed development), hilly area development, e-Panchnama, Maha Agri Tech, mangrove studies, groundwater management, and mineral/mining studies.

Moreover, the state Cabinet also gave approval to implement the Maharashtra Resilience Development Program (MRDP) which aims to raise disaster management funds with the help of private capital.

This includes a Rs 165 crore fund from the World Bank. The program will provide relief on home loans for disaster-affected citizens and offer credit concessions and insurance security to MSMEs.

To mitigate flood risks, prevention plans will be prepared for the Krishna Basin, including the cities of Kolhapur, Sangli, and Ichalkaranji.

- IANS

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Reader Comments

R
Rohit P
Listing Mahavitaran on the stock market is a bold step. Hopefully, it brings in more efficiency and transparency. But the government must ensure electricity tariffs for farmers and common people don't skyrocket after this restructuring. We need affordable power.
A
Arjun K
The focus on geospatial tech and disaster management is very welcome, especially after the floods in Kolhapur and Sangli. Using tech for Jalyukt Shivar and flood prevention can be a game-changer for our farmers. Good to see concrete plans for the Krishna basin.
S
Sarah B
As someone working in the startup ecosystem in Pune, this is encouraging news. A clear IT cadre and support for AI startups can attract more investment. The key will be execution - hope these policies actually reach entrepreneurs on the ground without red tape.
V
Vikram M
So many big announcements at once - new department, power company listing, geotech centre. Sounds impressive on paper, but will it work on the ground? We've seen many 'vikas' plans before. The proof will be in the implementation. Hope this isn't just another headline.
K
Kavya N
The educational programs for students in geospatial tech are a great idea! It's important to build skills for the future. Also, relief on home loans for disaster-affected people is a much-needed humane touch in all this tech talk. 👏

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