Mumbai, Sep 7 (SocialNews.XYZ) In a major move to boost its long-term development plans, the Maharashtra government on Monday constituted a specialised tendering committee to oversee the creation and operationalisation of a dedicated State financial institution.
Registered as a Non-Banking Financial Company (NBFC) with the Reserve Bank of India (RBI), this entity is designed to cater to the state's massive estimated infrastructure credit requirement of Rs 25–35 lakh crore over the next decade under the 'Viksit Maharashtra 2047' blueprint.
According to a Government Resolution (GR) issued by the Finance Department, the newly formed multi-disciplinary committee will drive the selection process for an expert advisory agency.
The procurement will follow a two-stage evaluation process -- starting with an Expression of Interest (EoI) for shortlisting followed by a Request for Proposal (RFP) for final selection.
The initiative targets standardising funding channels to support the state's ambitious Rs 25–35 lakh crore infrastructure push over the coming ten years.
The Maharashtra government hopes the state economy to become $1 trillion by 2029-30 and $5 trillion by 2047.
The state government's move to raise funds worth Rs 25 to 30 lakh crore needed to achieve 'Viksit Maharashtra 2047' vision through NBFC is important due to constraints in raising funds during the volatile market conditions.
"Of the credit need of Rs 25-30 lakh crore, Rs 10-12 lakh crore are proposed for Metro expansion (Mumbai Metropolitan Region at Pune in Nagpur), Coastal Road extensions, Shaktipeeth and Ring Expressways, Vadhavan Port connectivity, Rs 3.5-4.5 lakh crore for Solar/wind generation, pumped storage projects, grid modernisations, and 24x7 rural water supply grids, Rs 3-4 lakh crore for AI Innovation cities, semiconductor clusters, auto/EV manufacturing zones, and logistics parks, Rs 1 lakh crore for island tourism, coastal cruises, fort conservation, and luxury resort hubs and Rs 1.5 lakh crore for the upgradation of smart villages, micro-irrigation networks, and rural cold-chain logistics."
Stage 1 involves pre-qualification via an EoI response, while Stage 2 will consist of technical presentations and financial bidding under an request for proposal (RFP).
A four-member high level committee has been formed to ensure transparency, neutrality, and statutory compliance under the Companies Act, 2013.
The committee comprises key officials from administrative, legal, and finance sectors to maintain rigorous oversight.
The committee will be chaired by Finance Department Secretary (Financial Reforms) as Chairman/Presiding officer for administrative alignment and financial restructuring approvals, representative of law and judiciary (minimum deputy secretary rank as member (Legal) to provide legal oversight for company incorporation, Memorandum of Association and Article of Association vetting, and Companies Act compliance, expert nominated from RBI Bank or leading public sector bank to bring in specialised domain expertise in banking and NBFC operations and the Finance Department Deputy Secretary as member secretary to manage documentation, official correspondence, and state e-tendering.
The committee has been tasked with clear responsibilities throughout the procurement lifecycle to review and approve pre qualification and eligibility criteria for the expression of interest, open and verify state e-portal EoI submissions, evaluating candidate "Approach Notes", and conducting technical presentations, finalise a shortlist of advisory firms scoring 70 marks or higher to advance to the RFP phase and oversee RFP technical/financial evaluations, analyse commercial bids, and submit final recommendations to the state government for selecting a single advisory partner agency.
Source: IANS
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