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The decision, made just 24 hours after the Union Cabinet approved the UPS, allows state government employees to receive a pension equal to 50% of their average salary over the last 12 months, with inflation adjustments and other benefits.
The scheme will be effective from March this year.
The Maharashtra Cabinet also approved several other initiatives.
These include expanding the uninterrupted power supply scheme to more farmers, a ₹7,000 crore Nar-Par-Girna river linking project, and a ₹6,049 crore infrastructure project in Thane.
The river linking project will benefit agricultural land in Nashik and Jalgaon districts by providing irrigation to around 50,000 hectares.
The government will raise ₹5,000 crore through equity and bonds for the Thane project, which includes cluster housing developments and other infrastructure projects in the region.
The Cabinet also approved projects like a medicity, mangrove park, chemical hub, and digital university, requiring a combined expenditure of ₹10,000 crore.
In addition, the Cabinet has decided to extend revenue relief for land owned by BJP MP Udayanraje Bhosale to his successors, guarantee ₹29,000 crore for the Maharashtra State Electricity Distribution Company Limited (MSEDCL) to clear its dues, and increase ASHA facilitators’ wages by ₹4,000 starting in April.
Other decisions include holding sugar mill boards accountable for loan repayments, granting 100% scholarships to 763 eligible students of Dr. Babasaheb Ambedkar Research and Training Institute, and expediting 228 slum rehabilitation projects in Mumbai, which will lead to the construction of 2,18,931 houses.
–With PTI inputs
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