Blurb: Maharashtra Cabinet approved a major capital hike for MRVC while clearing specialised courts and key governance reforms across the state.
Mumbai
The Maharashtra Cabinet, chaired by Chief Minister Devendra Fadnavis, on Tuesday approved a significant increase in the authorised and paid-up share capital of the Mumbai Railway Vikas Corporation (MRVC) to strengthen its financial capacity for executing large-scale urban rail infrastructure projects across the Mumbai Metropolitan Region.
The Cabinet approved raising MRVC’s authorised share capital from Rs 25 crore to Rs 500 crore and increasing its paid-up share capital from Rs 25 crore to Rs 225 crore. The move is expected to improve the corporation’s ability to fund and execute high-value transport projects while securing better financial support from multilateral lending agencies.
MRVC, incorporated in 1999, is jointly owned by the Ministry of Railways with a 51 per cent stake and the Maharashtra government with a 49 per cent stake. The corporation is implementing major projects under the Mumbai Urban Transport Project (MUTP), including line extensions, track quadruplication, station modernisation and Communications-Based Train Control (CBTC) signalling systems. It is also planning additional railway lines between Pune and Lonavala.
The corporation currently manages projects worth nearly Rs 64,644 crore, making the capital enhancement crucial for meeting working capital requirements and avoiding project delays.
Apart from transport infrastructure, the Cabinet approved the creation of the post of Managing Director at the Centre for Artificial Intelligence and AgriTech Innovation under the MahaAgri-AI Policy.
It also approved several judicial reforms, including a Special NDPS Court in Pune, new district and magistrate courts in Karjat and Kurduwadi, and Exclusive Special Courts in five districts to expedite cases under the Scheduled Castes and Scheduled Tribes (Prevention of Atrocities) Act.
Focus sectors
The Cabinet’s decision strengthens Maharashtra’s focus on infrastructure, governance and judicial efficiency. Besides enhancing MRVC’s financial capacity for transport projects, the government approved an AI leadership post under the MahaAgri-AI Policy and established specialised courts to accelerate trials under the NDPS Act and the SC/ST (Prevention of Atrocities) Act.
