MoUs with Bank of Baroda and Bank of Maharashtra to Boost Inclusive Development under ‘Vikasit Rajasthan 2047’: Chief Minister Bhajanlal Sharma

Jaipur : Chief Minister Bhajanlal Sharma announced that the state government has formulated a five-year action plan under the ‘Vikasit Rajasthan 2047’ initiative, targeting inclusive development based on the principle of “Sarvajan Hitaya” (welfare of all). He stated that ten commitments have been defined for the future, including developing infrastructure and elevating the state’s economy to $350 billion.

The Chief Minister was addressing the signing ceremony of two MoUs between the Rajasthan government and Bank of Baroda and Bank of Maharashtra at the Chief Minister’s residence. As per the MoUs, Bank of Baroda will provide loans worth ₹20,000 crore annually until March 31, 2030, while Bank of Maharashtra will extend ₹10,000 crore annually for the same period. These funds will primarily support the state’s infrastructure projects, particularly in power, renewable energy, roads, drinking water, and sanitation.

Expressing pride in the collaboration, Mr. Sharma said, “It is a matter of honor that esteemed institutions like Bank of Baroda and Bank of Maharashtra are partnering in Rajasthan’s development journey. Their support will strengthen our infrastructure, making today’s agreement a milestone in fortifying the state’s foundation.”

Highlighting the importance of banks, he emphasized that they play a pivotal role in personal, state, and national growth. He urged banks to ensure their services reach the common people for maximum benefit.

He further remarked that aligning with Prime Minister Narendra Modi’s vision, the state government is committed to strengthening infrastructure. Rajasthan aims to increase its renewable energy production capacity to 125 GW by 2029-30 and has pledged ₹60,000 crore to develop 53,000 kilometers of road networks over five years. He also noted that the RISING Rajasthan Global Investment Summit has secured MoUs worth ₹35 lakh crore for the state’s progress.

Deputy Chief Minister (Finance) Diya Kumari lauded the Chief Minister’s visionary leadership and stated that these MoUs mark a significant step toward achieving the state’s developmental goals. Senior officials from the state government and both banks were present during the event.