The Maharashtra government has approved a dedicated investment trust platform Maharashtra Infrastructure Investment Trust (‘Maha InVit') for infrastructue projects
Maha InVit will serve as a return investment model, offering public sector investors a stable channel to invest in infrastructure. Representational Pic/File
Maharashtra has become the first state in India to form a trust, 'Maha InVit', for major infrastructure development projects in the state, the officials said.
They said that in a major step to ensure long-term funding for major infrastructure development projects in the state including bridges and roads, the Maharashtra government on Tuesday approved a dedicated investment trust platform Maharashtra Infrastructure Investment Trust (‘Maha InVit').
Following the approval at the cabinet meeting held on Tuesday in Mumbai, Maharashtra CM Devendra Fadnavis shared the details of the decision on X.
He wrote, "Maharashtra has become the first state in India to form 'Maha InVit', a trust for infrastructure projects."
CM Fadnavis further wrote that Maha InVit will streamline and accelerate the development of fundamental infrastructure projects by attracting public and private investments through a structured system and a special purpose vehicle (SPV) will be appointed to operationalise the trust structure.
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He stated that it will serve as a return investment model, offering public sector investors a stable channel to invest in infrastructure.
Meanwhile, in an another decision, the Maharashtra cabinet approved a new policy of shipbuilding, shipbreaking, and ship repair, which will help boost the economy and generate employment.
The Maharashtra government also announced a toll waiver for all electric four-wheeler passenger vehicles and electric buses on some of the state's major expressways.
The state on Tuesday decided that the electric vehicles will not have to pay tolls on the Mumbai-Pune Expressway, Atal Setu (Mumbai Trans Harbour Link), Samruddhi Mahamarg (Hindu Hrudaysamrat Balasaheb Thackeray Expressway), the officials said.
They said that a 50 per cent toll discount will be offered to electric vehicles on other state and national highways under the Public Works Department (PWD) of Maharashtra.
"The decision is aimed to encourage the use of electric vehicles and reducing pollution by promoting clean and sustainable transport in the state," an official said.
The state cabinet also gave its approval to Maharashtra Electric Vehicle Policy, 2025. Under the policy, aimed to push for green mobility and encourage usage of electric vehicles, the state government besides announcing toll waiver-concession, has decided that all electric vehicles sold and registered in Maharashtra would be exempted from motor vehicle tax and registration certificate or renewal fees and discounts would also be given on purchase of vehicles till 2030.
As per the statement issued by Maharashtra CM Devendra Fadnavis' office, "10 per cent discount will be given on the original price of electric two-wheelers, three wheelers, four wheelers (non transport), buses of state transport undertaking and private, state/urban transport undertakings."
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