Rajasthan Govt Signs MoU with Punjab National Bank to Boost Infrastructure, Metro Expansion, and Renewable Energy Projects

Jaipur, Sept 2025 : Chief Minister Bhajanlal Sharma said that building a Viksit Rajasthan (Developed Rajasthan) in line with Prime Minister Narendra Modi’s vision of Viksit Bharat-2047 is the government’s goal. From the very first budget, the state has been working with long-term planning to achieve this. He highlighted that projects such as the Greenfield Expressway, Jaipur Metro expansion, and renewable energy initiatives will play a pivotal role in strengthening Rajasthan’s infrastructure and economy. The state aims to grow its economy to $350 billion by 2030, with a strong focus on capital investment.

The Chief Minister was speaking at the MoU signing ceremony between the Rajasthan Government and Punjab National Bank (PNB) held at the CM’s residence on Saturday. He noted that PNB has been a valued partner in central and state welfare schemes and expressed confidence that this partnership will open new dimensions of growth and public welfare in Rajasthan.

Financial Resources Key to Growth

Sharma stressed that financial resources are crucial for development, from villages to the state and national levels. Citing the success of the PM SVANidhi Scheme, he said it has significantly improved the lives of the poor. He urged PNB, being one of India’s leading banks, to expand its reach, strengthen public trust in banking, and ensure access to services for every citizen. He also called on the bank to extend greater support to MSME units in the state.

₹21,000 Crore Support for Development Projects

As part of the MoU, the Finance (Expenditure) Secretary of Rajasthan and the Zonal Head of PNB formally signed the agreement. Under this, PNB will provide ₹21,000 crore in financial support over the next five years for projects in energy, roads, drinking water, sanitation, and other infrastructure sectors. This will ensure smooth financing and faster implementation of major projects.

Chief Secretary Sudhansh Pant, Additional Chief Secretary to CM Shikhar Agrawal, Principal Finance Secretary Vaibhav Galriya, PNB Managing Director and CEO Ashok Chandra, along with senior officials from the Finance Department, the CM’s Office, and PNB representatives, were present at the event.